Jianpu Technology (NYSE:JT) Shares Down 18.4%

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Jianpu Technology Inc – (NYSE:JT) fell 18.4% during trading on Wednesday . The company traded as low as $1.47 and last traded at $1.55, 521,000 shares changed hands during mid-day trading. An increase of 42% from the average session volume of 366,003 shares. The stock had previously closed at $1.90.

Several research firms have weighed in on JT. UBS Group restated a “sell” rating on shares of Jianpu Technology in a report on Wednesday, September 4th. Zacks Investment Research raised shares of Jianpu Technology from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Jianpu Technology presently has a consensus rating of “Hold” and a consensus target price of $6.75.

The business has a 50 day moving average of $2.06 and a 200-day moving average of $3.16. The stock has a market cap of $354.75 million, a PE ratio of -11.07 and a beta of 1.38.

A number of large investors have recently made changes to their positions in JT. Yiheng Capital LLC increased its position in Jianpu Technology by 10.8% during the second quarter. Yiheng Capital LLC now owns 7,973,107 shares of the company’s stock worth $29,819,000 after buying an additional 778,396 shares in the last quarter. Wells Fargo & Company MN increased its position in Jianpu Technology by 2.1% during the 2nd quarter. Wells Fargo & Company MN now owns 7,610,711 shares of the company’s stock worth $28,464,000 after purchasing an additional 159,000 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in Jianpu Technology by 7.2% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,086,761 shares of the company’s stock worth $4,032,000 after purchasing an additional 73,312 shares in the last quarter. Renaissance Technologies LLC raised its stake in Jianpu Technology by 28.0% in the 2nd quarter. Renaissance Technologies LLC now owns 929,000 shares of the company’s stock valued at $3,474,000 after purchasing an additional 203,034 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Jianpu Technology by 800.6% in the 2nd quarter. BlackRock Inc. now owns 492,388 shares of the company’s stock valued at $1,841,000 after purchasing an additional 437,712 shares during the last quarter. Hedge funds and other institutional investors own 18.38% of the company’s stock.

Jianpu Technology Company Profile (NYSE:JT)

Jianpu Technology Inc operates a platform that provides online discovery and recommendation services for financial products in the People's Republic of China. Its platform allows users to access to financial products, including consumer and other loans, credit cards, and wealth management products.

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