Cango Inc – (NYSE:CANG) Sees Significant Decrease in Short Interest

Cango Inc – (NYSE:CANG) saw a large decrease in short interest in November. As of November 29th, there was short interest totalling 4,000 shares, a decrease of 78.3% from the November 14th total of 18,400 shares. Based on an average daily trading volume, of 8,600 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the company’s stock are short sold.

A number of equities research analysts have issued reports on CANG shares. Morgan Stanley lowered shares of Cango from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 27th. TheStreet raised shares of Cango from a “d+” rating to a “c-” rating in a research note on Friday, December 6th. Finally, Zacks Investment Research downgraded shares of Cango from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st.

NYSE CANG traded up $0.31 on Wednesday, reaching $7.49. The stock had a trading volume of 12,100 shares, compared to its average volume of 4,274. The business has a 50 day moving average price of $6.43 and a 200 day moving average price of $6.01. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.04. Cango has a 1 year low of $4.52 and a 1 year high of $10.20. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 24.16 and a beta of 1.85.

About Cango

Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.

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