TheStreet Downgrades KongZhong to Hold (KONG)
The analysts wrote, “KongZhong (KONG) has been downgraded by TheStreet Ratings from buy to hold. The company’s strengths can be seen in multiple areas, such as its increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and weak operating cash flow.”
Shares of KongZhong (NASDAQ:KONG) traded down 0.91% during mid-day trading on Tuesday, hitting $8.75. The stock had a trading volume of 81,653 shares. KongZhong has a 52-week low of $5.95 and a 52-week high of $14.92. The stock’s 50-day moving average is $9.71 and its 200-day moving average is $9.21. The company has a market cap of $397.2 million and a price-to-earnings ratio of 19.67.
KongZhong Corporation is a provider of digital entertainment services for consumers in the People’s Republic of China.
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