Cheche Group Inc. (NASDAQ:CCG) Sees Large Increase in Short Interest

Cheche Group Inc. (NASDAQ:CCG) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 11,287 shares, a growth of 88.7% from the August 15th total of 5,983 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 20,133 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cheche Group stock. Citadel Advisors LLC acquired a new position in shares of Cheche Group Inc. (NASDAQ:CCG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 117,080 shares of the company’s stock, valued at approximately $63,000. Citadel Advisors LLC owned 5.93% of Cheche Group as of its most recent SEC filing. Hedge funds and other institutional investors own 19.76% of the company’s stock.

Cheche Group Price Performance

CCG opened at $13.91 on Thursday. The firm has a 50 day simple moving average of $14.82 and a 200 day simple moving average of $19.84. Cheche Group has a fifty-two week low of $10.20 and a fifty-two week high of $53.90. The company has a market cap of $27.55 million, a price-to-earnings ratio of -4.97 and a beta of 0.18.

Cheche Group (NASDAQ:CCG) last announced its quarterly earnings data on Friday, September 4th. The company reported ($1.37) earnings per share (EPS) for the quarter. The business had revenue of $65.14 million for the quarter. As a group, analysts expect that Cheche Group will post -2.79 EPS for the current year.

Analyst Ratings Changes

CCG has been the topic of a number of research analyst reports. Maxim Group lowered Cheche Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Wall Street Zen raised Cheche Group to a “sell” rating in a research note on Saturday, September 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Cheche Group in a report on Friday, July 17th. Finally, Zacks Research upgraded Cheche Group to a “hold” rating in a report on Thursday, September 10th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cheche Group currently has an average rating of “Reduce”.

Cheche Group Company Profile

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.