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

Token Cat Limited – Sponsored ADR (NASDAQ:TC) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 302,346 shares, an increase of 981.8% from the September 30th total of 27,949 shares. Approximately 17.6% of the company’s stock are sold short. Based on an average daily trading volume, of 4,030,434 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several research firms have commented on TC. Weiss Ratings restated a “sell (e+)” rating on shares of Token Cat in a research note on Monday, October 19th. Wall Street Zen raised shares of Token Cat from a “sell” rating to a “hold” rating in a research note on Saturday, October 17th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of “Sell”.

Token Cat Stock Down 4.9%

Token Cat stock traded down $0.06 during mid-day trading on Monday, reaching $1.16. The company’s stock had a trading volume of 61,956 shares, compared to its average volume of 2,347,471. Token Cat has a 12 month low of $1.15 and a 12 month high of $19.99. The business’s 50 day simple moving average is $1.78 and its 200 day simple moving average is $6.67.

Token Cat (NASDAQ:TC) last issued its quarterly earnings results on Thursday, October 15th. The company reported ($0.71) EPS for the quarter. The business had revenue of $1.43 million for the quarter.

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.