TuanChe Limited (NASDAQ:TC) was the target of a significant increase in short interest in May. As of May 28th, there was short interest totalling 9,200 shares, an increase of 557.1% from the May 13th total of 1,400 shares. Based on an average trading volume of 33,400 shares, the days-to-cover ratio is currently 0.3 days.
TuanChe stock traded down $0.31 during midday trading on Friday, hitting $3.14. 23,572 shares of the company were exchanged, compared to its average volume of 34,543. The stock’s fifty day simple moving average is $3.57. The company has a market cap of $63.15 million, a price-to-earnings ratio of -3.14 and a beta of 0.14. TuanChe has a fifty-two week low of $2.61 and a fifty-two week high of $7.60.
TuanChe (NASDAQ:TC) last released its quarterly earnings data on Sunday, April 11th. The company reported ($1.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.29) by $1.17. TuanChe had a negative return on equity of 48.17% and a negative net margin of 47.89%. The business had revenue of $25.40 million for the quarter.
Separately, Maxim Group reiterated a “hold” rating on shares of TuanChe in a research note on Monday, April 19th.
TuanChe Limited, through its subsidiaries, operates as an omni-channel automotive marketplace in China. It organizes auto shows and group-purchase events that attract various consumers; 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.
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