Token Cat Limited – Sponsored ADR (NASDAQ:TC) Sees Significant Decrease in Short Interest

Token Cat Limited – Sponsored ADR (NASDAQ:TC) was the recipient of a large drop in short interest in August. As of August 14th, there was short interest totaling 113,328 shares, a drop of 65.1% from the July 30th total of 324,653 shares. Based on an average trading volume of 417,142 shares, the short-interest ratio is presently 0.3 days. Approximately 6.6% of the shares of the stock are short sold.

Analyst Ratings Changes

TC has been the subject of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Token Cat in a report on Friday, July 17th. Wall Street Zen raised shares of Token Cat to a “hold” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Token Cat currently has an average rating of “Sell”.

Token Cat Trading Up 8.3%

Shares of TC stock traded up $0.16 during trading hours on Friday, hitting $2.09. 303,903 shares of the company’s stock were exchanged, compared to its average volume of 777,542. The business’s 50 day simple moving average is $3.04 and its 200-day simple moving average is $7.64. Token Cat has a 12-month low of $1.49 and a 12-month high of $22.46.

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.