Qutoutiao (NASDAQ:QTT) Trading Down 6.7%

Qutoutiao Inc – (NASDAQ:QTT) fell 6.7% during mid-day trading on Friday . The stock traded as low as $4.00 and last traded at $4.07, 2,850,492 shares were traded during mid-day trading. An increase of 33% from the average session volume of 2,136,031 shares. The stock had previously closed at $4.36.

Separately, Zacks Investment Research lowered shares of Qutoutiao from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $12.80.

The company has a debt-to-equity ratio of 2.47, a quick ratio of 2.20 and a current ratio of 2.20. The stock has a market cap of $1.15 billion and a P/E ratio of -1.94. The company’s 50 day moving average price is $4.25 and its 200-day moving average price is $6.79.

Several hedge funds and other institutional investors have recently bought and sold shares of QTT. Bank of Montreal Can bought a new stake in shares of Qutoutiao in the 2nd quarter worth $59,000. Public Employees Retirement System of Ohio bought a new stake in shares of Qutoutiao in the 2nd quarter worth $59,000. Enlightenment Research LLC bought a new stake in shares of Qutoutiao in the 2nd quarter worth $66,000. Vanguard Group Inc. bought a new position in Qutoutiao during the second quarter valued at about $75,000. Finally, NumerixS Investment Technologies Inc bought a new position in Qutoutiao during the second quarter valued at about $94,000. Hedge funds and other institutional investors own 6.72% of the company’s stock.

Qutoutiao Company Profile (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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