Qutoutiao (QTT) Shares Gap Up to $8.74

Qutoutiao Inc – (NASDAQ:QTT) gapped up before the market opened on Tuesday . The stock had previously closed at $8.28, but opened at $8.74. Qutoutiao shares last traded at $8.94, with a volume of 2788737 shares traded.

A number of brokerages have commented on QTT. Deutsche Bank lowered shares of Qutoutiao from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a report on Wednesday, February 20th. UBS Group lowered shares of Qutoutiao from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Friday, February 15th. Zacks Investment Research raised shares of Qutoutiao from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, March 27th. Finally, Citigroup raised shares of Qutoutiao from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $16.00 to $14.00 in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $12.80.

The company has a market cap of $2.50 billion and a PE ratio of -4.26.

Qutoutiao (NASDAQ:QTT) last issued its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The firm had revenue of $191.87 million for the quarter, compared to the consensus estimate of $191.90 million. Equities analysts forecast that Qutoutiao Inc – will post -0.72 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. National Asset Management Inc. bought a new position in shares of Qutoutiao in the 4th quarter valued at about $66,000. BlackRock Inc. bought a new position in shares of Qutoutiao in the 4th quarter valued at about $399,000. Citadel Advisors LLC bought a new position in shares of Qutoutiao in the 3rd quarter valued at about $466,000. Finally, FMR LLC bought a new position in shares of Qutoutiao in the 4th quarter valued at about $4,510,000. 0.29% of the stock is currently owned by institutional investors.

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Qutoutiao Company Profile (NASDAQ:QTT)

Qutoutiao Inc develops an application for news in China. Qutoutiao Inc was formerly known as Qtech Ltd. and changed its name to Qutoutiao Inc in July 2018. The company was founded in 2016 and is based in Shanghai, China.

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