Qutoutiao (NASDAQ:QTT) Shares Down 6.7%

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Qutoutiao Inc – (NASDAQ:QTT) shares were down 6.7% on Friday . The company traded as low as $4.00 and last traded at $4.07, approximately 2,850,492 shares traded hands during trading. An increase of 33% from the average daily volume of 2,136,031 shares. The stock had previously closed at $4.36.

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

The stock’s 50 day moving average price is $4.25 and its 200 day moving average price is $6.79. The company has a debt-to-equity ratio of 2.47, a quick ratio of 2.20 and a current ratio of 2.20. The company has a market capitalization of $1.15 billion and a P/E ratio of -1.94.

Several large investors have recently bought and sold shares of the company. Voloridge Investment Management LLC bought a new stake in shares of Qutoutiao in the 2nd quarter valued at $822,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Qutoutiao in the 2nd quarter valued at $1,368,000. Cubist Systematic Strategies LLC boosted its stake in shares of Qutoutiao by 134.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 99,261 shares of the company’s stock valued at $391,000 after purchasing an additional 56,845 shares during the last quarter. Morgan Stanley boosted its stake in shares of Qutoutiao by 2,551.6% in the 2nd quarter. Morgan Stanley now owns 2,182,491 shares of the company’s stock valued at $8,599,000 after purchasing an additional 2,100,184 shares during the last quarter. Finally, Vanguard Group Inc. bought a new stake in shares of Qutoutiao in the 2nd quarter valued at $75,000. 6.72% of the stock is currently owned by institutional investors.

Qutoutiao Company Profile (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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