Token Cat Limited – Sponsored ADR (NASDAQ:TC) Short Interest Up 384.4% in June

Token Cat Limited – Sponsored ADR (NASDAQ:TC) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 27,114 shares, a growth of 384.4% from the June 15th total of 5,597 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average trading volume of 759,709 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of Token Cat

An institutional investor recently bought a new stake in Token Cat stock. Sabby Management LLC acquired a new stake in Token Cat Limited – Sponsored ADR (NASDAQ:TC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,983 shares of the company’s stock, valued at approximately $55,000. Token Cat accounts for 0.1% of Sabby Management LLC’s investment portfolio, making the stock its 24th largest holding. Sabby Management LLC owned approximately 0.24% of Token Cat as of its most recent SEC filing. 8.88% of the stock is currently owned by institutional investors.

Token Cat Stock Down 7.9%

Token Cat stock traded down $0.19 during trading hours on Friday, reaching $2.21. 283,972 shares of the stock were exchanged, compared to its average volume of 4,335,989. Token Cat has a 52-week low of $1.49 and a 52-week high of $22.46. The firm’s 50 day moving average is $7.85 and its 200 day moving average is $9.35.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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, According to MarketBeat, the company currently 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.