CooTek (Cayman) (CTK) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of CooTek (Cayman) (NYSE:CTK) from a hold rating to a sell rating in a research report sent to investors on Monday.

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. “

Several other research analysts have also recently issued reports on the company. Citigroup initiated coverage on CooTek (Cayman) in a report on Monday, December 10th. They issued a buy rating on the stock. KeyCorp set a $14.00 price target on CooTek (Cayman) and gave the company a buy rating in a report on Thursday, March 7th.

CTK opened at $9.91 on Monday. CooTek has a 1-year low of $5.40 and a 1-year high of $13.30.

CooTek (Cayman) (NYSE:CTK) last released its earnings results on Wednesday, March 6th. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $47.05 million during the quarter, compared to analyst estimates of $46.10 million. On average, equities analysts anticipate that CooTek will post 0.56 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley bought a new position in shares of CooTek (Cayman) in the third quarter valued at $2,549,000. Credit Suisse AG bought a new position in shares of CooTek (Cayman) in the third quarter valued at $4,106,000. Hound Partners LLC bought a new position in shares of CooTek (Cayman) in the third quarter valued at $708,000. Granite Point Capital Management L.P. bought a new position in shares of CooTek (Cayman) in the third quarter valued at $236,000. Finally, Bank of America Corp DE bought a new position in shares of CooTek (Cayman) in the fourth quarter valued at $179,000. 1.73% of the stock is currently owned by institutional investors.

About CooTek (Cayman)

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: Moving Average (MA)

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