Token Cat Limited – Sponsored ADR (NASDAQ:TC) Sees Large Increase in Short Interest

Token Cat Limited – Sponsored ADR (NASDAQ:TC – Get Free Report) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 501,558 shares, a growth of 1,749.8% from the June 30th total of 27,114 shares. Based on an average daily volume of 7,808,967 shares, the short-interest ratio is presently 0.1 days. Approximately 29.1% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Token Cat in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Token Cat currently has a consensus rating of “Sell”.

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Token Cat Stock Up 22.3%

Shares of NASDAQ TC traded up $0.42 during mid-day trading on Friday, hitting $2.30. The company had a trading volume of 12,802,633 shares, compared to its average volume of 4,602,772. Token Cat has a 12 month low of $1.49 and a 12 month high of $22.46. The business’s 50-day simple moving average is $6.34 and its 200-day simple moving average is $8.97.

About Token Cat

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TuanChe Limited, through its subsidiaries, operates as an omni-channel automotive marketplace in China and internationally. It organizes auto shows and special promotion events; and provides integrated marketing solutions to industry customers, which include automakers, franchised dealerships, secondary dealers, and automotive service providers, as well as enable interactions between participants on both sides of a potential transaction. The company also offers business and technical support, and consulting services; online marketing services through various online platforms, including tuanche.com website, WeChat account, WeChat mini-program, mobile applications, and Cheshangtong, a SaaS product; and referral services for commercial bank to enhance its auto loan business.

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