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

Token Cat Limited – Sponsored ADR (NASDAQ:TC) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 38,575 shares, a growth of 87.6% from the August 31st total of 20,564 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 77,127 shares, the short-interest ratio is presently 0.5 days.

Token Cat Price Performance

Shares of NASDAQ:TC opened at $1.85 on Tuesday. The business’s 50 day moving average is $2.01 and its 200 day moving average is $6.15. Token Cat has a 52-week low of $1.49 and a 52-week high of $19.99.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Token Cat in a research note on Friday, July 17th. Wall Street Zen lowered shares of Token Cat from a “hold” rating to a “sell” rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus 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.