Token Cat (NASDAQ:TC) Shares Up 3.5% – Should You Buy?

Token Cat Limited – Sponsored ADR (NASDAQ:TC)’s stock price traded up 3.5% during mid-day trading on Friday . The company traded as high as $8.00 and last traded at $7.76. Approximately 15,527 shares changed hands during trading, an increase of 53% from the average daily volume of 10,120 shares. The stock had previously closed at $7.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Token Cat in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Token Cat Stock Up 3.5%

The company’s 50 day simple moving average is $9.18 and its 200-day simple moving average is $10.14.

Institutional Investors Weigh In On Token Cat

A hedge fund recently bought a new position in Token Cat stock. Sabby Management LLC bought a new position in shares of Token Cat Limited – Sponsored ADR (NASDAQ:TC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,983 shares of the company’s stock, valued at approximately $55,000. Token Cat makes up 0.1% of Sabby Management LLC’s holdings, making the stock its 24th biggest position. Sabby Management LLC owned about 0.24% of Token Cat as of its most recent filing with the Securities & Exchange Commission. 8.88% of the stock is currently owned by hedge funds and other institutional investors.

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.