Cheche Group (NASDAQ:CCG) Shares Up 12.7% – Here’s What Happened

Shares of Cheche Group Inc. (NASDAQ:CCG) shot up 12.7% during mid-day trading on Friday . The stock traded as high as $0.68 and last traded at $0.62. 312,820 shares traded hands during mid-day trading, an increase of 269% from the average session volume of 84,727 shares. The stock had previously closed at $0.5501.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Cheche Group in a report on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Cheche Group Trading Up 12.7%

The company has a market cap of $39.94 million, a price-to-earnings ratio of -7.75 and a beta of 0.18. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $0.71 and its two-hundred day simple moving average is $0.81.

Cheche Group (NASDAQ:CCG) last issued its earnings results on Thursday, April 2nd. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $118.72 million during the quarter.

Institutional Trading of Cheche Group

A hedge fund recently bought a new stake in Cheche Group stock. Centiva Capital LP bought a new stake in Cheche Group Inc. (NASDAQ:CCG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,244 shares of the company’s stock, valued at approximately $27,000. 19.76% of the stock is currently owned by hedge funds and other institutional investors.

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.