CooTek (Cayman) Inc. (NYSE:CTK) Short Interest Update

CooTek (Cayman) Inc. (NYSE:CTK) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 119,600 shares, a decrease of 22.3% from the October 31st total of 154,000 shares. Based on an average daily trading volume, of 38,400 shares, the short-interest ratio is currently 3.1 days. Currently, 0.2% of the shares of the stock are short sold.

Shares of CTK traded up $0.73 during mid-day trading on Thursday, reaching $5.63. The company had a trading volume of 45,591 shares, compared to its average volume of 51,426. The company’s 50 day simple moving average is $5.31 and its 200 day simple moving average is $7.12. CooTek has a 1-year low of $4.71 and a 1-year high of $13.30.

CooTek (Cayman) (NYSE:CTK) last posted its quarterly earnings results on Monday, November 18th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. CooTek (Cayman) had a negative net margin of 16.75% and a negative return on equity of 37.28%. The company had revenue of $31.27 million for the quarter, compared to the consensus estimate of $30.10 million. On average, equities analysts forecast that CooTek will post -0.6 EPS for the current year.

A number of brokerages have issued reports on CTK. KeyCorp reduced their price objective on shares of CooTek (Cayman) from $13.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Bank of America set a $6.60 price target on shares of CooTek (Cayman) and gave the company an “underperform” rating in a research note on Wednesday, August 21st. Zacks Investment Research upgraded shares of CooTek (Cayman) from a “hold” rating to a “strong-buy” rating and set a $6.25 price target on the stock in a research note on Friday, November 22nd. Finally, ValuEngine downgraded shares of CooTek (Cayman) from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. CooTek (Cayman) presently has a consensus rating of “Hold” and an average target price of $6.95.

A hedge fund recently bought a new stake in CooTek (Cayman) stock. Susquehanna International Group LLP bought a new position in shares of CooTek (Cayman) Inc. (NYSE:CTK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 200,000 shares of the company’s stock, valued at approximately $1,917,000. Susquehanna International Group LLP owned 0.31% of CooTek (Cayman) at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.01% of the company’s stock.

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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