Cheche Group (NASDAQ:CCG) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Cheche Group (NASDAQ:CCG) from a sell rating to a strong sell rating in a research note released on Sunday,Wall Street Zen reports.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Cheche Group in a report on Friday, July 17th. Maxim Group lowered shares of Cheche Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Finally, Zacks Research raised shares of Cheche Group to a “hold” rating in a research note on Thursday, September 10th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cheche Group currently has an average rating of “Reduce”.

Cheche Group Price Performance

Shares of CCG opened at $13.00 on Friday. The stock has a market capitalization of $25.74 million, a price-to-earnings ratio of -4.64 and a beta of 0.18. Cheche Group has a 1 year low of $10.20 and a 1 year high of $52.16. The business’s 50 day simple moving average is $14.56 and its 200-day simple moving average is $19.42.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Cheche Group stock. Citadel Advisors LLC bought a new position in shares of Cheche Group Inc. (NASDAQ:CCG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 117,080 shares of the company’s stock, valued at approximately $63,000. Citadel Advisors LLC owned about 5.93% of Cheche Group at the end of the most recent quarter. 19.76% of the stock is currently owned by hedge funds and other institutional investors.

Cheche Group Company Profile

Cheche Group Inc (NASDAQ: CCG) is an insurance technology company focused on China’s automotive insurance market. The company operates a digital platform designed to connect insurance carriers with auto manufacturers, dealerships, brokers, agents and consumers.

Cheche provides technology and data-driven solutions that support the distribution and servicing of auto insurance. Its platform helps industry participants compare and place policies, manage customer interactions and improve insurance-related operating processes.