Zacks Investment Research Lowers CooTek (Cayman) (CTK) to Sell

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 Friday morning, 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 brokerages have also issued reports on CTK. Citigroup lowered shares of CooTek (Cayman) from a buy rating to a neutral rating in a research note on Friday, March 8th. KeyCorp set a $14.00 price target on shares of CooTek (Cayman) and gave the company a buy rating in a report on Thursday, March 7th.

Shares of NYSE:CTK opened at $11.37 on Friday. CooTek has a 12-month low of $5.40 and a 12-month high of $13.30.

CooTek (Cayman) (NYSE:CTK) last issued its earnings results on Wednesday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. The company had revenue of $47.05 million for the quarter, compared to analyst estimates of $46.10 million. Analysts forecast that CooTek will post 0.53 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in CTK. BlackRock Inc. bought a new position in shares of CooTek (Cayman) during the 4th quarter worth about $61,000. Bank of America Corp DE acquired a new stake in shares of CooTek (Cayman) during the 4th quarter valued at about $179,000. Finally, Morgan Stanley acquired a new stake in shares of CooTek (Cayman) during the 3rd quarter valued at about $2,549,000. Hedge funds and other institutional investors own 1.73% 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.

Featured Story: Do You Need a Fiduciary?

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.