Short Interest in Cheche Group Inc. (NASDAQ:CCG) Drops By 96.9%

Cheche Group Inc. (NASDAQ:CCG) was the recipient of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 4,176 shares, a decline of 96.9% from the July 15th total of 136,731 shares. Based on an average daily trading volume, of 13,746 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the shares of the stock are short sold.

Cheche Group Trading Up 4.0%

Shares of Cheche Group stock traded up $0.53 on Tuesday, reaching $13.93. The company had a trading volume of 10,114 shares, compared to its average volume of 16,948. The firm has a market cap of $27.53 million, a price-to-earnings ratio of -4.98 and a beta of 0.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.23 and a quick ratio of 1.23. The firm’s 50-day moving average price is $14.93 and its two-hundred day moving average price is $22.14. Cheche Group has a 1 year low of $10.20 and a 1 year high of $53.90.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cheche Group in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Cheche Group currently has an average rating of “Sell”.

Institutional Trading of Cheche Group

An institutional investor recently bought a new position in Cheche Group stock. XTX Topco Ltd acquired a new position in shares of Cheche Group Inc. (NASDAQ:CCG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 36,369 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned 0.06% of Cheche Group as of its most recent SEC filing. 19.76% of the stock is 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.