Zacks Research Upgrades Cheche Group (NASDAQ:CCG) to Hold

Cheche Group (NASDAQ:CCG) was upgraded by research analysts at Zacks Research to a “hold” rating in a report issued on Thursday, Zacks reports.

A number of other brokerages have also commented on CCG. Wall Street Zen raised Cheche Group to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cheche Group in a research note on Friday, July 17th. Finally, Maxim Group cut Cheche Group from a “buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Cheche Group Stock Up 20.9%

Shares of CCG stock opened at $15.96 on Thursday. The stock has a market cap of $31.60 million, a P/E ratio of -5.70 and a beta of 0.18. Cheche Group has a 52 week low of $10.20 and a 52 week high of $53.90. The company’s fifty day simple moving average is $14.91 and its two-hundred day simple moving average is $20.17.

Cheche Group (NASDAQ:CCG) last issued its quarterly earnings data on Friday, September 4th. The company reported ($1.37) earnings per share for the quarter. The firm had revenue of $65.14 million during the quarter. On average, analysts anticipate that Cheche Group will post -2.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Cheche Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Cheche Group in the 4th quarter worth about $30,000. Centiva Capital LP bought a new stake in shares of Cheche Group during the 3rd quarter worth approximately $27,000. Finally, Citadel Advisors LLC purchased a new position in Cheche Group during the 2nd quarter valued at $63,000. Hedge funds and other institutional investors 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.