Token Cat (NASDAQ:TC) Stock Price Down 2.3% – Time to Sell?

Token Cat Limited – Sponsored ADR (NASDAQ:TC)’s stock price dropped 2.3% during trading on Friday . The company traded as low as $8.60 and last traded at $8.55. Approximately 1,273 shares changed hands during trading, a decline of 82% from the average daily volume of 6,947 shares. The stock had previously closed at $8.75.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Token Cat in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Token Cat Stock Performance

The firm’s 50 day moving average price is $9.64 and its two-hundred day moving average price is $11.01.

Institutional Investors Weigh In On Token Cat

An institutional investor recently bought a new position in Token Cat stock. Sabby Management LLC bought a new position in shares of Token Cat Limited – Sponsored ADR (NASDAQ:TC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,983 shares of the company’s stock, valued at approximately $55,000. Token Cat comprises approximately 0.1% of Sabby Management LLC’s holdings, making the stock its 24th largest position. Sabby Management LLC owned 0.24% of Token Cat as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 8.88% of the company’s stock.

Token Cat Company Profile

TuanChe Limited, through its subsidiaries, operates as an omni-channel automotive marketplace in China and internationally. It organizes auto shows and special promotion events; and provides integrated marketing solutions to industry customers, which include automakers, franchised dealerships, secondary dealers, and automotive service providers, as well as enable interactions between participants on both sides of a potential transaction. The company also offers business and technical support, and consulting services; online marketing services through various online platforms, including tuanche.com website, WeChat account, WeChat mini-program, mobile applications, and Cheshangtong, a SaaS product; and referral services for commercial bank to enhance its auto loan business.