CooTek (Cayman) (NYSE:CTK) Given a $6.60 Price Target at Bank of America

Bank of America set a $6.60 price target on CooTek (Cayman) (NYSE:CTK) in a report issued on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an underperform rating on the stock.

CTK has been the subject of several other reports. Zacks Investment Research raised shares of CooTek (Cayman) from a sell rating to a hold rating in a report on Monday, August 19th. KeyCorp cut their target price on shares of CooTek (Cayman) from $13.00 to $8.00 and set an overweight rating for the company in a report on Wednesday. Credit Suisse Group lowered shares of CooTek (Cayman) from an outperform rating to a neutral rating in a report on Tuesday, June 4th. Finally, Citigroup lowered shares of CooTek (Cayman) from a neutral rating to a sell rating in a report on Monday, June 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. CooTek (Cayman) has a consensus rating of Hold and a consensus price target of $7.30.

CTK opened at $6.50 on Wednesday. CooTek has a 12-month low of $5.40 and a 12-month high of $13.30. The firm has a 50 day moving average of $7.97 and a two-hundred day moving average of $9.59.

CooTek (Cayman) (NYSE:CTK) last posted its quarterly earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.21). The business had revenue of $37.59 million for the quarter, compared to analysts’ expectations of $47.70 million. CooTek (Cayman) had a negative return on equity of 25.00% and a negative net margin of 4.38%. Analysts expect that CooTek will post -0.68 EPS for the current year.

Several large investors have recently bought and sold shares of CTK. Susquehanna International Group LLP purchased a new stake in shares of CooTek (Cayman) during the second quarter worth approximately $1,917,000. Bank of America Corp DE purchased a new position in CooTek (Cayman) in the fourth quarter valued at approximately $179,000. Finally, BlackRock Inc. purchased a new position in CooTek (Cayman) in the fourth quarter valued at approximately $61,000. 1.68% of the stock is owned by hedge funds and other 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.

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