Token Cat (NASDAQ:TC) Trading Down 12.4% – Here’s What Happened

Token Cat Limited – Sponsored ADR (NASDAQ:TC) shares traded down 12.4% during trading on Tuesday . The company traded as low as $7.55 and last traded at $7.76. 8,862 shares traded hands during trading, a decline of 41% from the average session volume of 14,917 shares. The stock had previously closed at $8.86.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Token Cat in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Token Cat Price Performance

The company’s 50 day moving average is $15.89 and its two-hundred day moving average is $14.93.

Institutional Trading of Token Cat

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

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.