CooTek (Cayman) Inc. (NYSE:CTK) was the target of a large growth in short interest in October. As of October 29th, there was short interest totalling 639,000 shares, a growth of 15.4% from the October 14th total of 553,800 shares. Based on an average trading volume of 306,800 shares, the short-interest ratio is currently 2.1 days.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in CooTek (Cayman) during the first quarter worth approximately $43,000. Millennium Management LLC acquired a new position in shares of CooTek (Cayman) in the third quarter valued at approximately $44,000. LPL Financial LLC increased its holdings in shares of CooTek (Cayman) by 103.4% in the second quarter. LPL Financial LLC now owns 29,500 shares of the company’s stock valued at $49,000 after purchasing an additional 15,000 shares during the period. Citadel Advisors LLC increased its holdings in shares of CooTek (Cayman) by 49.9% in the first quarter. Citadel Advisors LLC now owns 25,390 shares of the company’s stock valued at $71,000 after purchasing an additional 8,453 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of CooTek (Cayman) in the first quarter valued at approximately $94,000. 5.54% of the stock is currently owned by institutional investors.
CTK opened at $0.82 on Wednesday. The firm has a market cap of $54.04 million, a price-to-earnings ratio of -0.95 and a beta of 0.09. CooTek has a 52 week low of $0.80 and a 52 week high of $7.20. The business’s 50 day moving average is $1.18 and its two-hundred day moving average is $1.53.
Separately, Zacks Investment Research lowered CooTek (Cayman) from a “buy” rating to a “hold” rating in a research report on Monday.
CooTek (Cayman) Company Profile
CooTek (Cayman) Inc is a mobile internet company, which engages in the development of mobile applications and artificial intelligence technology. Its products include TouchPal keyboard, HiFit, ManFit, Abs Workout, Cherry, Drink Water Reminder, and Blue Light filter. The company was founded by Kan Zhang, Teng Ren, Jia Liang Wang, Jim Wang, and Qiao Ling in 2008 and is headquartered in Shanghai, China.
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