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

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cheche Group stock. XTX Topco Ltd purchased a new position in Cheche Group Inc. (NASDAQ:CCG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 36,369 shares of the company’s stock, valued at approximately $30,000. XTX Topco Ltd owned about 0.06% of Cheche Group as of its most recent filing with the Securities and Exchange Commission (SEC). 19.76% of the stock is currently owned by institutional investors and hedge funds.

Cheche Group Price Performance

NASDAQ CCG traded up $0.53 during trading on Tuesday, hitting $13.93. 10,114 shares of the stock traded hands, compared to its average volume of 16,948. The company has a market capitalization of $27.53 million, a P/E ratio of -4.98 and a beta of 0.18. The firm has a 50-day simple moving average of $14.93 and a 200-day simple moving average of $22.14. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.03. Cheche Group has a 12-month low of $10.20 and a 12-month high of $53.90.

Wall Street Analyst Weigh In

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

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.