Qutoutiao (NASDAQ:QTT) Hits New 12-Month Low at $4.00

Qutoutiao Inc – (NASDAQ:QTT) reached a new 52-week low during trading on Thursday . The company traded as low as $4.00 and last traded at $4.00, with a volume of 17453 shares changing hands. The stock had previously closed at $4.10.

QTT has been the topic of a number of recent analyst reports. Citigroup raised shares of Qutoutiao from a “neutral” rating to a “buy” rating and dropped their target price for the company from $16.00 to $14.00 in a research report on Tuesday, April 16th. Zacks Investment Research downgraded shares of Qutoutiao from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.80.

The company has a debt-to-equity ratio of 0.02, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market capitalization of $1.13 billion and a P/E ratio of -1.88. The stock has a 50-day simple moving average of $4.77.

A number of institutional investors have recently modified their holdings of QTT. National Asset Management Inc. acquired a new stake in shares of Qutoutiao in the 4th quarter worth $66,000. SG Americas Securities LLC acquired a new stake in shares of Qutoutiao in the 1st quarter worth $236,000. BlackRock Inc. acquired a new stake in shares of Qutoutiao in the 4th quarter worth $399,000. Finally, FMR LLC acquired a new stake in shares of Qutoutiao in the 4th quarter worth $4,510,000. 0.35% of the stock is currently owned by institutional investors.

About Qutoutiao (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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