CooTek (Cayman) (CTK) Cut to Sell at Zacks Investment Research

CooTek (Cayman) (NYSE:CTK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “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. CooTek (Cayman) Inc. is based in Shanghai, the People’s Republic of China. “

Several other research firms have also weighed in on CTK. Citigroup lowered CooTek (Cayman) from a “buy” rating to a “neutral” rating in a report on Friday, March 8th. KeyCorp set a $14.00 target price on CooTek (Cayman) and gave the company a “buy” rating in a report on Thursday, March 7th.

NYSE CTK traded down $0.13 during trading on Friday, hitting $11.37. 9,733 shares of the company traded hands, compared to its average volume of 115,366. CooTek has a 12 month low of $5.40 and a 12 month high of $13.30.

CooTek (Cayman) (NYSE:CTK) last posted its earnings results on Wednesday, March 6th. The company reported $0.07 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The company had revenue of $47.05 million for the quarter, compared to the consensus estimate of $46.10 million. Analysts anticipate that CooTek will post 0.53 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Morgan Stanley bought a new position in shares of CooTek (Cayman) in the third quarter worth about $2,549,000. Bank of America Corp DE bought a new position in shares of CooTek (Cayman) in the fourth quarter worth about $179,000. Finally, BlackRock Inc. bought a new position in shares of CooTek (Cayman) in the fourth quarter worth about $61,000. Institutional investors and hedge funds own 1.73% of the company’s stock.

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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