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

Token Cat Limited – Sponsored ADR (NASDAQ:TC) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 501,558 shares, an increase of 1,749.8% from the June 30th total of 27,114 shares. Currently, 29.1% of the company’s shares are sold short. Based on an average trading volume of 7,808,967 shares, the days-to-cover ratio is presently 0.1 days.

Token Cat Stock Performance

Shares of NASDAQ TC traded up $0.42 during mid-day trading on Friday, reaching $2.30. 12,802,633 shares of the company’s stock were exchanged, compared to its average volume of 4,602,772. The company’s 50-day moving average is $6.34 and its 200-day moving average is $8.97. Token Cat has a 52-week low of $1.49 and a 52-week high of $22.46.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Token Cat in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Token Cat presently has an average rating of “Sell”.

Token Cat Company Profile

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.