Cheche Group (NASDAQ:CCG) Lowered to Strong Sell Rating by Wall Street Zen

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

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Cheche Group in a report on Friday, July 17th. Zacks Research raised Cheche Group to a “hold” rating in a report on Thursday, September 10th. Finally, Maxim Group downgraded Cheche Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 9th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Cheche Group Price Performance

Shares of NASDAQ:CCG opened at $12.97 on Friday. Cheche Group has a one year low of $10.20 and a one year high of $53.90. The company has a market cap of $25.68 million, a price-to-earnings ratio of -4.63 and a beta of 0.18. The firm has a 50 day simple moving average of $14.67 and a 200 day simple moving average of $19.63.

Cheche Group (NASDAQ:CCG) last posted its earnings results on Friday, September 4th. The company reported ($1.37) earnings per share 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.

Hedge Funds Weigh In On Cheche Group

A hedge fund recently bought a new stake in Cheche Group stock. Citadel Advisors LLC purchased a new position in shares of Cheche Group Inc. (NASDAQ:CCG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 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 filing with the Securities and Exchange Commission (SEC). Institutional investors own 19.76% of the company’s stock.

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.