Qutoutiao (NASDAQ:QTT) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Qutoutiao (NASDAQ:QTT) from a hold rating to a sell rating in a research report report published on Saturday morning, Zacks.com reports.

According to Zacks, “Qutoutiao Inc. is a mobile content aggregator primarily in China. The Company believes that it represents a new generation of technology-driven content platforms and its technology brings relevant information and entertainment to users, stimulates users’ desire to read and ultimately improves the knowledge exchange in society. Qutoutiao Inc. is based in SHANGHAI, China. “

Separately, BidaskClub raised Qutoutiao from a sell rating to a hold rating in a report on Thursday, June 18th.

NASDAQ QTT opened at $2.85 on Friday. The stock has a market capitalization of $798.85 million, a price-to-earnings ratio of -2.05 and a beta of 0.97. Qutoutiao has a one year low of $2.20 and a one year high of $6.55. The business’s fifty day moving average is $2.64 and its 200-day moving average is $3.51.

Qutoutiao (NASDAQ:QTT) last released its earnings results on Thursday, June 4th. The company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.02). The business had revenue of $202.24 million for the quarter. Qutoutiao had a negative return on equity of 2,417.23% and a negative net margin of 43.29%. Equities research analysts forecast that Qutoutiao will post -0.52 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP purchased a new position in shares of Qutoutiao during the first quarter worth about $34,000. Paloma Partners Management Co grew its holdings in shares of Qutoutiao by 83.5% during the first quarter. Paloma Partners Management Co now owns 20,238 shares of the company’s stock worth $48,000 after purchasing an additional 9,207 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Qutoutiao during the first quarter worth about $65,000. Jane Street Group LLC purchased a new position in shares of Qutoutiao during the first quarter worth about $92,000. Finally, Morgan Stanley grew its holdings in shares of Qutoutiao by 161.9% during the first quarter. Morgan Stanley now owns 84,284 shares of the company’s stock worth $201,000 after purchasing an additional 52,099 shares in the last quarter. 3.95% of the stock is owned by institutional investors and hedge funds.

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.

Read More: What is meant by a buy rating?

Get a free copy of the Zacks research report on Qutoutiao (QTT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Qutoutiao Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qutoutiao and related companies with MarketBeat.com's FREE daily email newsletter.