Qutoutiao (NASDAQ:QTT) was downgraded by stock analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Friday, www.briefing.com reports.

A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Qutoutiao from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Deutsche Bank upgraded shares of Qutoutiao from a “hold” rating to a “buy” rating and reduced their price objective for the company from $8.30 to $8.00 in a research note on Wednesday, November 14th. Finally, Citigroup assumed coverage on shares of Qutoutiao in a research note on Thursday, October 18th. They set a “neutral” rating and a $8.40 price objective for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.13.

NASDAQ:QTT opened at $12.87 on Friday. Qutoutiao has a fifty-two week low of $4.00 and a fifty-two week high of $20.39.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. National Asset Management Inc. purchased a new stake in shares of Qutoutiao during the 4th quarter valued at about $66,000. BlackRock Inc. purchased a new stake in shares of Qutoutiao during the 4th quarter valued at about $399,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Qutoutiao during the 3rd quarter valued at about $466,000. 0.13% of the stock is currently owned by hedge funds and other institutional investors.

Qutoutiao Company Profile

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.

Further Reading: 52-Week High/Low Prices For Stock Selection

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