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.
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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