Cheche Group (NASDAQ:CCG) Sees Strong Trading Volume – Here’s What Happened

Shares of Cheche Group Inc. (NASDAQ:CCG) saw unusually-high trading volume on Tuesday . 4,547 shares were traded during trading, an increase of 37% from the previous session’s volume of 3,329 shares.The stock last traded at $13.95 and had previously closed at $15.17.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cheche Group in a research report on Friday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Cheche Group Trading Down 25.0%

The firm has a 50-day moving average of $17.33 and a 200 day moving average of $23.94. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $785.90 million, a price-to-earnings ratio of -154.11 and a beta of 0.17.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cheche Group stock. Centiva Capital LP acquired a new position in Cheche Group Inc. (NASDAQ:CCG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,244 shares of the company’s stock, valued at approximately $27,000. 19.76% of the stock is currently owned by institutional investors and hedge funds.

About Cheche Group

Cheche Group Inc offer auto insurance technology platform. The company evolved into a comprehensive, data-driven technology platform which offers a full suite of services and products for digital insurance transactions and insurance SaaS solutions principally in China. Cheche Group Inc, formerly known as Prime Impact, is headquartered in Beijing, China.