Jefferies Financial Group began coverage on shares of Qutoutiao (NASDAQ:QTT) in a report issued on Thursday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $3.70 price objective on the stock.
Separately, Zacks Investment Research raised Qutoutiao from a sell rating to a hold rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Qutoutiao has a consensus rating of Hold and an average price target of $11.34.
QTT traded down $0.08 during midday trading on Thursday, reaching $2.75. 2,170,033 shares of the company were exchanged, compared to its average volume of 1,918,605. The company has a market cap of $779.02 million, a price-to-earnings ratio of -1.31 and a beta of 0.68. Qutoutiao has a one year low of $2.56 and a one year high of $18.00. The company’s fifty day moving average price is $3.40 and its 200 day moving average price is $4.01. The company has a debt-to-equity ratio of 2.47, a quick ratio of 2.20 and a current ratio of 2.20.
Qutoutiao (NASDAQ:QTT) last posted its earnings results on Tuesday, December 3rd. The company reported ($3.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($2.92). The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.40 billion. Qutoutiao had a negative net margin of 55.72% and a negative return on equity of 225.76%. The firm’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.72) EPS. As a group, sell-side analysts anticipate that Qutoutiao will post -1.44 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of Qutoutiao by 339.5% in the 3rd quarter. Millennium Management LLC now owns 56,885 shares of the company’s stock worth $210,000 after buying an additional 43,943 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Qutoutiao during the third quarter valued at approximately $973,000. State Street Corp increased its position in shares of Qutoutiao by 111.8% during the third quarter. State Street Corp now owns 270,011 shares of the company’s stock valued at $999,000 after acquiring an additional 142,530 shares during the last quarter. California Public Employees Retirement System bought a new stake in Qutoutiao during the third quarter worth $856,000. Finally, Voloridge Investment Management LLC bought a new stake in Qutoutiao during the second quarter worth $822,000. Hedge funds and other institutional investors own 5.15% of the company’s stock.
Qutoutiao Company Profile
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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