Short Interest in Token Cat Limited – Sponsored ADR (NASDAQ:TC) Rises By 247.9%

Token Cat Limited – Sponsored ADR (NASDAQ:TC) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 5,597 shares, an increase of 247.9% from the May 31st total of 1,609 shares. Based on an average daily trading volume, of 2,902 shares, the short-interest ratio is currently 1.9 days. Approximately 0.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Token Cat in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Token Cat Stock Up 3.1%

NASDAQ TC traded up $0.24 during trading on Monday, reaching $8.00. 818 shares of the company traded hands, compared to its average volume of 13,599. The stock’s 50 day moving average price is $9.18 and its two-hundred day moving average price is $10.08. Token Cat has a 1-year low of $6.38 and a 1-year high of $22.46.

Institutional Investors Weigh In On Token Cat

An institutional investor recently bought a new stake in Token Cat stock. Sabby Management LLC bought a new position in shares of Token Cat Limited – Sponsored ADR (NASDAQ:TC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,983 shares of the company’s stock, valued at approximately $55,000. Token Cat comprises 0.1% of Sabby Management LLC’s investment portfolio, making the stock its 24th largest position. Sabby Management LLC owned 0.24% of Token Cat at the end of the most recent reporting period. 8.88% of the stock is 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.