Token Cat Limited – Sponsored ADR (NASDAQ:TC – Get Free Report) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 20,564 shares, a decline of 81.9% from the August 15th total of 113,328 shares. Based on an average daily volume of 171,699 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.2% of the shares of the company are short sold.
Token Cat Stock Down 1.5%
Shares of TC stock traded down $0.03 during mid-day trading on Friday, hitting $1.95. 4,350 shares of the stock traded hands, compared to its average volume of 738,574. Token Cat has a twelve month low of $1.49 and a twelve month high of $19.99. The company’s 50-day simple moving average is $2.08 and its 200-day simple moving average is $6.94.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on TC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Token Cat in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Token Cat from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.
About Token Cat
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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