Cheche Group (NASDAQ:CCG) Stock Rating Lowered by Wall Street Zen

Cheche Group (NASDAQ:CCG) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

A number of other brokerages have also recently issued reports on CCG. Zacks Research raised shares of Cheche Group to a “hold” rating in a research note on Thursday, September 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cheche Group in a research report on Friday, July 17th. Finally, Maxim Group downgraded Cheche Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Cheche Group Trading Down 4.3%

Cheche Group stock opened at $12.41 on Friday. The company has a market cap of $24.57 million, a PE ratio of -4.43 and a beta of 0.18. Cheche Group has a 1 year low of $10.20 and a 1 year high of $52.16. The company’s 50-day moving average is $14.61 and its two-hundred day moving average is $19.52.

Cheche Group (NASDAQ:CCG) last issued its quarterly earnings results on Friday, September 4th. The company reported ($1.37) EPS for the quarter. The firm had revenue of $65.14 million for the quarter. Research analysts forecast that Cheche Group will post -2.79 EPS for the current year.

Institutional Investors Weigh In On Cheche Group

An institutional investor recently bought a new position in Cheche Group stock. Citadel Advisors LLC acquired a new stake in Cheche Group Inc. (NASDAQ:CCG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 117,080 shares of the company’s stock, valued at approximately $63,000. Citadel Advisors LLC owned approximately 5.93% of Cheche Group as of its most recent SEC filing. Institutional investors own 19.76% of the company’s stock.

Cheche Group Company Profile

Cheche Group Inc (NASDAQ: CCG) is an insurance technology company focused on China’s automotive insurance market. The company operates a digital platform designed to connect insurance carriers with auto manufacturers, dealerships, brokers, agents and consumers.

Cheche provides technology and data-driven solutions that support the distribution and servicing of auto insurance. Its platform helps industry participants compare and place policies, manage customer interactions and improve insurance-related operating processes.