Cheche Group Inc. (NASDAQ:CCG – Get Free Report)’s stock price was up 29.5% during trading on Thursday. The stock traded as high as $7.77 and last traded at $7.68. 57,649 shares were traded during mid-day trading, an increase of 59% from the average daily volume of 36,237 shares. The stock had previously closed at $5.93.
Analysts Set New Price Targets
A number of analysts have recently commented on CCG shares. Wall Street Zen downgraded Cheche Group from a “sell” rating to a “strong sell” rating in a research note on Sunday, September 20th. Maxim Group lowered Cheche Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 9th. Zacks Research upgraded Cheche Group to a “hold” rating in a report on Thursday, September 10th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cheche Group in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cheche Group presently has a consensus rating of “Reduce”.
Check Out Our Latest Stock Report on Cheche Group
Cheche Group Stock Performance
The company has a market capitalization of $15.85 million, a price-to-earnings ratio of -2.86 and a beta of 0.28. The firm has a 50-day simple moving average of $11.18 and a two-hundred day simple moving average of $16.04.
Cheche Group (NASDAQ:CCG – Get Free Report) last posted its quarterly earnings data on Friday, September 4th. The company reported ($1.37) EPS for the quarter. The firm had revenue of $65.14 million for the quarter. As a group, equities analysts forecast that Cheche Group Inc. will post -2.79 EPS for the current fiscal year.
Hedge Funds Weigh In On Cheche Group
An institutional investor recently bought a new position in Cheche Group stock. Citadel Advisors LLC bought a new position in shares of Cheche Group Inc. (NASDAQ:CCG – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 117,080 shares of the company’s stock, valued at approximately $63,000. Citadel Advisors LLC owned approximately 5.93% of Cheche Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 19.76% of the company’s stock.
Cheche Group Company Profile
Cheche Group Inc is a China-based insurance technology company that operates a digital platform for the distribution and servicing of insurance products. The company primarily focuses on automotive insurance, using technology to connect insurance carriers with consumers, agents, brokers and other distribution partners.
Its platform is designed to support insurance quotation, comparison, policy placement, customer acquisition and related servicing activities. Cheche also provides digital tools and data-driven solutions intended to help insurers improve distribution efficiency, reach customers through online and offline channels, and manage interactions throughout the insurance lifecycle.
Founded in 2014, Cheche serves the Chinese insurance market and has developed relationships with insurance companies, automotive businesses and other ecosystem participants.
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