Tuanche (NYSE:TC) Issues Quarterly Earnings Results

Tuanche (NYSE:TC) posted its earnings results on Tuesday, August 20th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.27), Morningstar.com reports. The business had revenue of $29.65 million for the quarter.

Shares of NYSE:TC opened at $2.67 on Friday. The firm’s 50 day moving average price is $3.57 and its 200-day moving average price is $5.09. Tuanche has a twelve month low of $2.05 and a twelve month high of $7.93.

Separately, Maxim Group set a $13.00 target price on shares of Tuanche and gave the company a “buy” rating in a research note on Friday, August 16th.

A hedge fund recently bought a new stake in Tuanche stock. Jane Street Group LLC bought a new position in shares of Tuanche (NYSE:TC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 44,464 shares of the company’s stock, valued at approximately $136,000. Jane Street Group LLC owned 0.06% of Tuanche at the end of the most recent quarter.

About Tuanche

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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