Qutoutiao (QTT) Trading Down 8.2%

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Qutoutiao Inc – (NASDAQ:QTT) fell 8.2% on Friday . The company traded as low as $5.54 and last traded at $5.62. 3,662,732 shares were traded during trading, an increase of 74% from the average session volume of 2,101,106 shares. The stock had previously closed at $6.12.

A number of research analysts recently commented on QTT shares. Deutsche Bank cut Qutoutiao from a “buy” rating to a “hold” rating and set a $10.00 price target on the stock. in a research report on Wednesday, February 20th. Citigroup upgraded Qutoutiao from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $16.00 to $14.00 in a research report on Tuesday, April 16th. Zacks Investment Research cut Qutoutiao from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, UBS Group cut Qutoutiao from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $12.80.

The stock has a market capitalization of $1.71 billion and a P/E ratio of -2.68.

Qutoutiao (NASDAQ:QTT) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.02). The company had revenue of $191.87 million during the quarter, compared to the consensus estimate of $191.90 million. On average, sell-side analysts expect that Qutoutiao Inc – will post -1.03 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley grew its holdings in shares of Qutoutiao by 164,514.0% in the 1st quarter. Morgan Stanley now owns 82,307 shares of the company’s stock worth $953,000 after purchasing an additional 82,257 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Qutoutiao in the 1st quarter worth about $181,000. SG Americas Securities LLC bought a new stake in shares of Qutoutiao in the 1st quarter worth about $236,000. FMR LLC bought a new stake in shares of Qutoutiao in the 4th quarter worth about $4,510,000. Finally, BlackRock Inc. bought a new stake in shares of Qutoutiao in the 4th quarter worth about $399,000. Institutional investors own 0.30% of the company’s stock.

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About Qutoutiao (NASDAQ:QTT)

Qutoutiao Inc operates mobile platforms for the distribution, consumption, and sharing of light entertainment content in the People's Republic of China. The company operates Qutoutiao, a mobile application that aggregates articles and short videos from professional media and freelancers and presents customized feeds to users; and Quduopai, a mobile application that allows users to create, upload, and view videos.

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