Qutoutiao Inc. (NASDAQ:QTT) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 9,800,000 shares, a decline of 20.8% from the September 15th total of 12,370,000 shares. Based on an average daily trading volume, of 1,870,000 shares, the days-to-cover ratio is currently 5.2 days. Currently, 7.5% of the shares of the stock are sold short.
A number of equities analysts have recently weighed in on the company. ValuEngine lowered Qutoutiao from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 2nd. Zacks Investment Research upgraded Qutoutiao from a “sell” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, BidaskClub upgraded shares of Qutoutiao from a “strong sell” rating to a “sell” rating in a research report on Friday, October 9th.
Shares of Qutoutiao stock traded down $0.04 during trading on Friday, reaching $2.33. 1,164,998 shares of the stock traded hands, compared to its average volume of 1,763,287. Qutoutiao has a 52-week low of $2.12 and a 52-week high of $6.55. The business has a fifty day simple moving average of $2.53 and a two-hundred day simple moving average of $2.72. The company has a market capitalization of $660.04 million, a price-to-earnings ratio of -1.68 and a beta of 0.87.
Qutoutiao (NASDAQ:QTT) last announced its quarterly earnings results on Monday, September 21st. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. Qutoutiao had a negative return on equity of 2,417.23% and a negative net margin of 43.29%. The company had revenue of $203.35 million during the quarter, compared to analyst estimates of $200.70 million. On average, sell-side analysts predict that Qutoutiao will post -0.52 EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. State Street Corp raised its position in shares of Qutoutiao by 4.7% during the 1st quarter. State Street Corp now owns 283,778 shares of the company’s stock valued at $678,000 after buying an additional 12,812 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Qutoutiao in the 1st quarter worth approximately $65,000. Morgan Stanley boosted its stake in Qutoutiao by 161.9% during the first quarter. Morgan Stanley now owns 84,284 shares of the company’s stock worth $201,000 after buying an additional 52,099 shares during the period. Jane Street Group LLC bought a new position in Qutoutiao during the first quarter valued at $92,000. Finally, Paloma Partners Management Co raised its stake in shares of Qutoutiao by 83.5% in the first quarter. Paloma Partners Management Co now owns 20,238 shares of the company’s stock valued at $48,000 after acquiring an additional 9,207 shares during the period. 3.17% of the stock is owned by hedge funds and other institutional investors.
Qutoutiao Inc operates mobile platforms for the distribution, consumption, and sharing of light entertainment content in the People's Republic of China. The company's flagship product include Qutoutiao, a mobile application that aggregates articles and videos from content providers and presents real-time customized feeds to users.
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