CooTek (Cayman) (NYSE:CTK) Rating Increased to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of CooTek (Cayman) (NYSE:CTK) from a sell rating to a hold rating in a report published on Monday morning, Zacks.com reports.

According to Zacks, “CooTek (Cayman) Inc. operates as an AI and big data-driven mobile Internet company. Its primary product is TouchPal Smart Input, an input method for mobile devices. CooTek (Cayman) Inc. is based in Shanghai, the People’s Republic of China. “

Several other research firms have also weighed in on CTK. Bank of America lowered CooTek (Cayman) from a buy rating to an underperform rating in a research report on Wednesday, July 17th. Credit Suisse Group lowered CooTek (Cayman) from an outperform rating to a neutral rating in a report on Tuesday, June 4th. Finally, Citigroup lowered CooTek (Cayman) from a neutral rating to a sell rating in a report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. CooTek (Cayman) has a consensus rating of Hold and a consensus price target of $7.30.

NYSE:CTK opened at $6.47 on Monday. CooTek has a twelve month low of $5.40 and a twelve month high of $13.30. The stock’s 50 day moving average price is $8.03 and its two-hundred day moving average price is $9.62.

CooTek (Cayman) (NYSE:CTK) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.21). The company had revenue of $37.59 million for the quarter, compared to analyst estimates of $47.70 million. CooTek (Cayman) had a negative return on equity of 44.43% and a negative net margin of 4.38%. Research analysts forecast that CooTek will post 0.22 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of CooTek (Cayman) during the 4th quarter worth approximately $61,000. Susquehanna International Group LLP acquired a new position in shares of CooTek (Cayman) during the 2nd quarter worth approximately $1,917,000. Finally, Bank of America Corp DE acquired a new position in shares of CooTek (Cayman) during the 4th quarter worth approximately $179,000. 1.68% of the stock is currently owned by institutional investors and hedge funds.

About CooTek (Cayman)

CooTek (Cayman) Inc operates as an AI and big data-driven mobile Internet company. Its primary product is TouchPal Smart Input, an input method for mobile devices that supports approximately 110 languages worldwide. The company was founded in 2008 and is based in Shanghai, the People's Republic of China.

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