Token Cat (NASDAQ:TC) Stock Price Down 12.4% – What’s Next?

Token Cat Limited – Sponsored ADR (NASDAQ:TC) fell 12.4% during mid-day trading on Tuesday . The company traded as low as $7.55 and last traded at $7.76. 8,862 shares changed hands during trading, a decline of 41% from the average session volume of 14,917 shares. The stock had previously closed at $8.86.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Token Cat in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Token Cat currently has a consensus rating of “Sell”.

Token Cat Price Performance

The firm has a 50-day moving average price of $16.08 and a 200-day moving average price of $14.98.

Institutional Investors Weigh In On Token Cat

An institutional investor recently bought a new position in Token Cat stock. Sabby Management LLC purchased a new stake in shares of Token Cat Limited – Sponsored ADR (NASDAQ:TC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,983 shares of the company’s stock, valued at approximately $55,000. Token Cat makes up about 0.1% of Sabby Management LLC’s portfolio, making the stock its 24th largest holding. Sabby Management LLC owned approximately 0.24% of Token Cat as of its most recent filing with the Securities and Exchange Commission (SEC). 8.88% of the stock is currently owned by institutional investors and hedge funds.

About Token Cat

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.