Deutsche Bank upgraded shares of Qutoutiao (NASDAQ:QTT) from a hold rating to a buy rating in a report released on Wednesday, November 14th, Marketbeat reports. They currently have $8.00 target price on the stock, down from their prior target price of $8.30.

Several other research firms have also recently commented on QTT. Citigroup began coverage on shares of Qutoutiao in a research note on Thursday, October 18th. They set a neutral rating and a $8.40 target price for the company. KeyCorp assumed coverage on shares of Qutoutiao in a report on Tuesday, October 9th. They issued an overweight rating and a $11.00 price target on the stock.

NASDAQ QTT traded down $0.16 during trading on Wednesday, reaching $4.31. The company’s stock had a trading volume of 355,071 shares, compared to its average volume of 293,803. Qutoutiao has a 1-year low of $4.00 and a 1-year high of $20.39.

Qutoutiao (NASDAQ:QTT) last issued its quarterly earnings data on Monday, November 12th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.21). The firm had revenue of $142.28 million for the quarter, compared to analyst estimates of $131.40 million. As a group, analysts anticipate that Qutoutiao will post -1.86 EPS for the current fiscal year.

An institutional investor recently bought a new position in Qutoutiao stock. Citadel Advisors LLC purchased a new stake in Qutoutiao Inc – (NASDAQ:QTT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 65,418 shares of the company’s stock, valued at approximately $466,000. 0.14% of the stock is currently owned by hedge funds and other institutional investors.

About Qutoutiao

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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