Tuanche (TC) Reaches New 12-Month Low After Earnings Miss

Tuanche (NYSE:TC) shares hit a new 52-week low during trading on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $5.96 and last traded at $6.28, with a volume of 89526 shares changing hands. The stock had previously closed at $6.65.

The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). The firm had revenue of $18.31 million for the quarter.

Separately, Maxim Group began coverage on Tuanche in a research report on Tuesday, February 5th. They issued a “buy” rating and a $13.00 target price on the stock.

An institutional investor recently bought a new position in Tuanche stock. Oxford Asset Management LLP bought a new stake in Tuanche (NYSE:TC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,352 shares of the company’s stock, valued at approximately $83,000.

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Tuanche Company Profile (NYSE:TC)

TuanChe Limited operates as an omni-channel automotive marketplace in China. It organizes auto shows and group events that attract various consumers, as well as provides integrated marketing solutions to its industry customers, which include automakers, franchised dealerships, secondary dealers, and automotive service providers and enable interactions between participants on both sides of a potential transaction, creating a many-to-many environment.

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