Cheche Group (NASDAQ:CCG) Raised to Sell at Wall Street Zen

Cheche Group (NASDAQ:CCG) was upgraded by analysts at Wall Street Zen to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on CCG. Weiss Ratings restated a “sell (e+)” rating on shares of Cheche Group in a research note on Friday, July 17th. Maxim Group downgraded Cheche Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cheche Group has a consensus rating of “Reduce”.

Cheche Group Price Performance

Shares of NASDAQ CCG opened at $15.96 on Friday. The firm has a market cap of $31.60 million, a PE ratio of -5.70 and a beta of 0.18. Cheche Group has a 12-month low of $10.20 and a 12-month high of $53.90. The company’s fifty day simple moving average is $14.91 and its 200 day simple moving average is $20.13.

Cheche Group (NASDAQ:CCG) last posted its quarterly earnings results 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, equities analysts predict that Cheche Group will post -2.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCG. Citadel Advisors LLC bought a new stake in shares of Cheche Group during the second quarter worth about $63,000. XTX Topco Ltd bought a new position in Cheche Group in the 4th quarter valued at about $30,000. Finally, Centiva Capital LP bought a new position in Cheche Group in the 3rd quarter valued at about $27,000. 19.76% of the stock is currently owned by institutional investors and hedge funds.

About Cheche Group

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.