Cheche Group Inc. (NASDAQ:CCG) Short Interest Update

Cheche Group Inc. (NASDAQ:CCG) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 11,287 shares, an increase of 88.7% from the August 15th total of 5,983 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 20,133 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Cheche Group

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

Cheche Group Stock Down 12.8%

NASDAQ CCG opened at $12.10 on Friday. The firm has a 50-day moving average price of $14.74 and a two-hundred day moving average price of $19.73. Cheche Group has a 12-month low of $10.20 and a 12-month high of $53.90. The company has a market capitalization of $23.96 million, a P/E ratio of -4.32 and a beta of 0.18.

Cheche Group (NASDAQ:CCG) last announced its earnings results on Friday, September 4th. The company reported ($1.37) EPS for the quarter. The firm had revenue of $65.14 million for the quarter. Equities analysts expect that Cheche Group will post -2.79 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on CCG shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Cheche Group in a report on Friday, July 17th. Maxim Group lowered Cheche Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 9th. Wall Street Zen upgraded Cheche Group to a “sell” rating in a research report on Saturday, September 12th. Finally, Zacks Research raised 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.com, Cheche Group presently has a consensus rating of “Reduce”.

About Cheche Group

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.