TuanChe Limited (NASDAQ:TC) Short Interest Update

TuanChe Limited (NASDAQ:TC) saw a significant growth in short interest in the month of May. As of May 28th, there was short interest totalling 9,200 shares, a growth of 557.1% from the May 13th total of 1,400 shares. Based on an average daily trading volume, of 33,400 shares, the days-to-cover ratio is presently 0.3 days.

TC traded down $0.31 during trading on Friday, reaching $3.14. 23,572 shares of the stock were exchanged, compared to its average volume of 34,543. The firm has a market capitalization of $63.15 million, a P/E ratio of -3.14 and a beta of 0.14. TuanChe has a 1 year low of $2.61 and a 1 year high of $7.60. The stock’s 50 day moving average price is $3.57.

TuanChe (NASDAQ:TC) last issued its quarterly earnings results on Sunday, April 11th. The company reported ($1.12) EPS for the quarter, topping analysts’ consensus estimates of ($2.29) by $1.17. The business had revenue of $25.40 million during the quarter. TuanChe had a negative net margin of 47.89% and a negative return on equity of 48.17%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in TuanChe in the 4th quarter valued at about $37,000. Citadel Advisors LLC boosted its position in shares of TuanChe by 131.3% in the first quarter. Citadel Advisors LLC now owns 24,518 shares of the company’s stock worth $98,000 after acquiring an additional 13,918 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in TuanChe in the fourth quarter valued at approximately $132,000. Institutional investors own 0.57% of the company’s stock.

Separately, Maxim Group reiterated a “hold” rating on shares of TuanChe in a research report on Monday, April 19th.

TuanChe Company Profile

TuanChe Limited, through its subsidiaries, operates as an omni-channel automotive marketplace in China. It organizes auto shows and group-purchase events that attract various consumers; 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.

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