CooTek (Cayman) (NYSE:CTK) Cut to “Neutral” at Credit Suisse Group

CooTek (Cayman) (NYSE:CTK) was downgraded by research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, June 4th, MarketBeat Ratings reports.

Several other analysts also recently commented on CTK. KeyCorp set a $14.00 target price on shares of CooTek (Cayman) and gave the stock a “buy” rating in a report on Thursday, March 7th. Citigroup downgraded shares of CooTek (Cayman) from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. Finally, Zacks Investment Research downgraded shares of CooTek (Cayman) from a “hold” rating to a “strong sell” rating in a report on Monday, March 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.50.

Shares of NYSE:CTK traded up $0.34 during mid-day trading on Tuesday, reaching $9.59. The stock had a trading volume of 75,698 shares, compared to its average volume of 108,749. The stock has a 50 day moving average of $9.39. CooTek has a twelve month low of $5.40 and a twelve month high of $13.30.

CooTek (Cayman) (NYSE:CTK) last announced its quarterly earnings results on Monday, June 3rd. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $40.04 million during the quarter, compared to analyst estimates of $40.10 million. On average, equities analysts anticipate that CooTek will post 0.26 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in CTK. BlackRock Inc. bought a new position in CooTek (Cayman) during the fourth quarter worth $61,000. Bank of America Corp DE bought a new position in CooTek (Cayman) during the fourth quarter worth $179,000. Finally, Morgan Stanley bought a new position in CooTek (Cayman) during the third quarter worth $2,549,000. 1.69% of the stock is owned by institutional investors and hedge funds.

CooTek (Cayman) Company Profile

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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