Cheche Group Inc. (NASDAQ:CCG – Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 28,962 shares, a growth of 87.5% from the September 30th total of 15,450 shares. Based on an average trading volume of 19,001 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.5% of the company’s shares are sold short.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Cheche Group stock. Citadel Advisors LLC acquired a new position in Cheche Group Inc. (NASDAQ:CCG – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 117,080 shares of the company’s stock, valued at approximately $63,000. Citadel Advisors LLC owned about 5.93% of Cheche Group as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 19.76% of the company’s stock.
Cheche Group Price Performance
NASDAQ:CCG opened at $7.14 on Friday. The stock has a market cap of $14.14 million, a PE ratio of -2.55 and a beta of 0.28. Cheche Group has a fifty-two week low of $4.11 and a fifty-two week high of $37.45. The stock’s 50-day moving average is $10.33 and its two-hundred day moving average is $19.20.
Cheche Group (NASDAQ:CCG – Get Free Report) last posted its quarterly earnings results on Friday, September 4th. The company reported ($1.37) earnings per share (EPS) for the quarter. The firm had revenue of $65.14 million for the quarter. On average, equities research analysts anticipate that Cheche Group will post -2.79 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms recently commented on CCG. Zacks Research raised shares of Cheche Group to a “hold” rating in a research note on Thursday, September 10th. Maxim Group downgraded shares of Cheche Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Wall Street Zen lowered Cheche Group from a “sell” rating to a “strong sell” rating in a report on Sunday, September 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cheche Group in a 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 company’s stock. According to data from MarketBeat, Cheche Group currently has a consensus rating of “Reduce”.
Check Out Our Latest Report on Cheche Group
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 automobile insurance. Its platform is designed to connect insurance carriers with automobile consumers, agents, brokers, automotive manufacturers and other participants in the vehicle ecosystem.
The company provides technology-enabled insurance distribution services, including digital tools for policy acquisition, customer engagement and insurance-related transactions.
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