Short Interest in TuanChe Limited (NASDAQ:TC) Drops By 56.0%

TuanChe Limited (NASDAQ:TC) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 2,200 shares, a drop of 56.0% from the February 29th total of 5,000 shares. Based on an average daily volume of 62,000 shares, the short-interest ratio is currently 0.0 days.

TuanChe Stock Performance

Shares of TC traded up $0.04 during mid-day trading on Thursday, reaching $1.62. The company’s stock had a trading volume of 2,062 shares, compared to its average volume of 65,932. The business has a 50-day simple moving average of $1.93 and a two-hundred day simple moving average of $4.13. TuanChe has a 1-year low of $1.40 and a 1-year high of $15.75.

Institutional Trading of TuanChe

Several hedge funds and other institutional investors have recently modified their holdings of TC. Renaissance Technologies LLC boosted its stake in TuanChe by 10.9% in the 3rd quarter. Renaissance Technologies LLC now owns 49,698 shares of the company’s stock valued at $178,000 after purchasing an additional 4,900 shares during the period. Two Sigma Investments LP acquired a new stake in shares of TuanChe during the fourth quarter worth $125,000. Finally, Walleye Capital LLC bought a new stake in shares of TuanChe in the third quarter valued at about $849,000. Institutional investors own 8.88% of the company’s stock.

TuanChe 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.