CooTek [Cayman] Inc. [CTK] stock Upgrade by BofA/Merrill analyst, price target now $7

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CooTek (Cayman) Inc. [NYSE: CTK] jumped around 0.04 points on Tuesday, while shares priced at $0.24 at the close of the session, up 17.07%. The company report on March 18, 2022 that Fengdu Novel Profitability Enhanced with Successful IP Incubation of Novel to Short Films.

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Recently, a batch of high-quality literature work from Fengdu Novel, online literature app developed by CooTek (Cayman) Inc. (NYSE: CTK) (“CooTek” or the “Company”), have been selected by the ninth round of the Tencent Video’s Mars Project and will be ready for producing into short films by production companies. As Fengdu Novel continues to focus on building up its content ecology through IP business, the successful collaboration marks another milestone in its IP incubation of short films. The five pieces of literature works are great examples for short films incubation, featuring the fast-paced, imaginary and non-traditional novel styles. The successful cooperation with the platform and production companies also proves the appeals of IP in the market.

The successful shooting projects of the online novel works testify Fengdu’s strong capabilities in IP incubation and commercialization, based on its rich experience in IP sourcing and licensing. In the past year, Fengdu Novel launched several collaboration projects on IP licensing into audio books, videos, and animations. In terms of content globalization, Fengdu Novel has also licensed a number of works to overseas platforms and enlarged the exposures for these works. In addition, Fengdu Novel was able to commercialize its content through other social media channels. With content commercialization as the prime focus of Fengdu Novel, it is expected to increase revenue streams and enhance the profitability for the Company, further enhancing its content ecology.

CooTek (Cayman) Inc. stock is now -60.93% down from its year-to-date (YTD) trading value. CTK Stock saw the intraday high of $0.274 and lowest of $0.20 per share. The company’s 52-week high price is 2.50, which means current price is +27.66% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 4.75M shares, CTK reached a trading volume of 12138992 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about CooTek [Cayman] Inc. [CTK]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTK shares is $5.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTK stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA/Merrill have made an estimate for CooTek (Cayman) Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 06, 2020. The new note on the price target was released on June 10, 2019, representing the official price target for CooTek (Cayman) Inc. stock.

The Average True Range (ATR) for CooTek (Cayman) Inc. is set at 0.03, with the Price to Sales ratio for CTK stock in the period of the last 12 months amounting to 0.06.

How has CTK stock performed recently?

CooTek (Cayman) Inc. [CTK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.04. With this latest performance, CTK shares dropped by -17.24% in over the last four-week period, additionally sinking by -77.78% over the last 6 months – not to mention a drop of -87.94% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTK stock in for the last two-week period is set at 47.61, with the RSI for the last a single of trading hit 50.05, and the three-weeks RSI is set at 45.85 for CooTek (Cayman) Inc. [CTK]. The present Moving Average for the last 50 days of trading for this stock 0.2610, while it was recorded at 0.2217 for the last single week of trading, and 0.8807 for the last 200 days.

CooTek [Cayman] Inc. [CTK]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and CooTek (Cayman) Inc. [CTK] shares currently have an operating margin of -4.84 and a Gross Margin at +87.94. CooTek (Cayman) Inc.’s Net Margin is presently recorded at -5.10.

CooTek (Cayman) Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Insider trade positions for CooTek [Cayman] Inc. [CTK]

There are presently around $1 million, or 3.80% of CTK stock, in the hands of institutional investors. The top three institutional holders of CTK stocks are: ALIBABA GROUP HOLDING LTD with ownership of 2,122,328, which is approximately 0% of the company’s market cap and around 3.83% of the total institutional ownership; QUALCOMM INC/DE, holding 1,055,579 shares of the stock with an approximate value of $0.22 million in CTK stocks shares; and SC CHINA HOLDING LTD, currently with $85000.0 in CTK stock with ownership of nearly 0% of the company’s market capitalization.

Positions in CooTek (Cayman) Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 6 institutional holders increased their position in CooTek (Cayman) Inc. [NYSE:CTK] by around 1,214,118 shares. Additionally, 6 investors decreased positions by around 77,691 shares, while 4 investors held positions by with 2,941,280 shares. The mentioned changes placed institutional holdings at 4,233,089 shares, according to the latest SEC report filing. CTK stock had 4 new institutional investments in for a total of 1,147,798 shares, while 4 institutional investors sold positions of 75,748 shares during the same period.