Token Cat (NASDAQ:TC) Trading Down 2.3% – Time to Sell?

Shares of Token Cat Limited – Sponsored ADR (NASDAQ:TC) dropped 2.3% during trading on Friday . The stock traded as low as $8.60 and last traded at $8.55. Approximately 1,273 shares were traded during trading, a decline of 82% from the average daily volume of 6,947 shares. The stock had previously closed at $8.75.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Token Cat in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Token Cat Stock Performance

The company’s 50 day simple moving average is $9.64 and its 200-day simple moving average is $11.01.

Hedge Funds Weigh In On Token Cat

An institutional investor recently bought a new position in Token Cat stock. Sabby Management LLC bought a new stake in shares of Token Cat Limited – Sponsored ADR (NASDAQ:TC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,983 shares of the company’s stock, valued at approximately $55,000. Token Cat accounts for 0.1% of Sabby Management LLC’s portfolio, making the stock its 24th largest holding. Sabby Management LLC owned approximately 0.24% of Token Cat as of its most recent SEC filing. Institutional investors 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.