Qutoutiao (NASDAQ:QTT) Shares Gap Down to $4.07

Qutoutiao Inc – (NASDAQ:QTT)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $3.89, but opened at $4.07. Qutoutiao shares last traded at $4.13, with a volume of 33,344 shares traded.

Separately, Zacks Investment Research downgraded shares of Qutoutiao from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Qutoutiao presently has a consensus rating of “Hold” and an average target price of $12.80.

The company has a market cap of $1.15 billion and a PE ratio of -1.95. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 2.47. The firm’s 50-day simple moving average is $4.22 and its two-hundred day simple moving average is $6.66.

Several hedge funds have recently added to or reduced their stakes in QTT. SG Americas Securities LLC purchased a new stake in shares of Qutoutiao in the 1st quarter valued at $236,000. Stevens Capital Management LP purchased a new stake in Qutoutiao during the second quarter worth $142,000. Enlightenment Research LLC purchased a new stake in Qutoutiao during the second quarter worth $66,000. Matthews International Capital Management LLC purchased a new stake in Qutoutiao during the second quarter worth $1,733,000. Finally, Bank of Montreal Can purchased a new stake in Qutoutiao during the second quarter worth $59,000. 6.72% of the stock is currently owned by institutional investors and hedge funds.

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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