Cheche Group (NASDAQ:CCG) Sees Large Volume Increase – Still a Buy?

Shares of Cheche Group Inc. (NASDAQ:CCG) saw unusually-high trading volume on Tuesday . Approximately 4,547 shares traded hands during mid-day trading, an increase of 37% from the previous session’s volume of 3,329 shares.The stock last traded at $13.95 and had previously closed at $15.17.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cheche Group in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Cheche Group Stock Up 6.6%

The company has a 50 day simple moving average of $16.86 and a two-hundred day simple moving average of $23.70. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $24.72 million, a P/E ratio of -156.06 and a beta of 0.17.

Institutional Trading of Cheche Group

A hedge fund recently bought a new position in Cheche Group stock. Centiva Capital LP purchased a new position in Cheche Group Inc. (NASDAQ:CCG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,244 shares of the company’s stock, valued at approximately $27,000. Institutional investors and hedge funds own 19.76% of the company’s stock.

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.