CooTek (Cayman) (NYSE:CTK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday, 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. “

A number of other research analysts have also commented on CTK. Bank of America lowered CooTek (Cayman) from a “buy” rating to an “underperform” rating in a research report on Wednesday, July 17th. Citigroup lowered CooTek (Cayman) from a “neutral” rating to a “sell” rating in a research report on Monday, June 10th. Finally, Credit Suisse Group lowered CooTek (Cayman) from an “outperform” rating to a “neutral” rating in a research report on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.50.

Shares of CTK traded up $0.02 during midday trading on Monday, reaching $6.09. The stock had a trading volume of 17,000 shares, compared to its average volume of 92,157. The company’s 50-day moving average is $8.20 and its 200 day moving average is $9.69. CooTek has a 12-month low of $5.40 and a 12-month high of $13.30.

CooTek (Cayman) (NYSE:CTK) last released its earnings results on Monday, June 3rd. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $40.04 million during the quarter, compared to the consensus estimate of $40.10 million. On average, equities research analysts predict that CooTek will post 0.22 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in CooTek (Cayman) during the 4th quarter valued at $61,000. Susquehanna International Group LLP purchased a new stake in CooTek (Cayman) during the 2nd quarter valued at $1,917,000. Finally, Bank of America Corp DE purchased a new stake in CooTek (Cayman) during the 4th quarter valued at $179,000. Institutional investors and hedge funds own 1.68% 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.

Further Reading: What are the risks of holding treasury bonds?

Get a free copy of the Zacks research report on CooTek (Cayman) (CTK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CooTek (Cayman) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CooTek (Cayman) and related companies with MarketBeat.com's FREE daily email newsletter.