CooTek (Cayman) (CTK) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of CooTek (Cayman) (NYSE:CTK) from a hold rating to a sell rating in a report published on Tuesday, 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. “

Several other brokerages have also recently commented on CTK. Citigroup cut shares of CooTek (Cayman) from a buy rating to a neutral rating in a research report 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 research report on Thursday, March 7th.

Shares of CTK stock opened at $10.60 on Tuesday. CooTek has a 52 week low of $5.40 and a 52 week high of $13.30.

CooTek (Cayman) (NYSE:CTK) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.07 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The business had revenue of $47.05 million during the quarter, compared to analysts’ expectations of $46.10 million. On average, analysts forecast that CooTek will post 0.53 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Morgan Stanley purchased a new stake in shares of CooTek (Cayman) during the 3rd quarter worth $2,549,000. Bank of America Corp DE purchased a new stake in shares of CooTek (Cayman) during the 4th quarter worth $179,000. Finally, BlackRock Inc. purchased a new stake in shares of CooTek (Cayman) during the 4th quarter worth $61,000. 1.73% of the stock is owned by institutional investors.

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.

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