Cango Inc. (NYSE:CANG) Short Interest Update

Cango Inc. (NYSE:CANG) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 97,900 shares, a growth of 2,075.6% from the October 31st total of 4,500 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 184,000 shares, the short-interest ratio is currently 0.5 days.

Cango Stock Up 4.6 %

CANG stock opened at $4.08 on Friday. The company has a 50 day moving average of $2.55 and a two-hundred day moving average of $2.01. The company has a market cap of $444.39 million, a price-to-earnings ratio of 24.00 and a beta of 0.63. Cango has a 12-month low of $0.92 and a 12-month high of $4.21.

Cango (NYSE:CANG) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.10 earnings per share (EPS) for the quarter. Cango had a return on equity of 3.55% and a net margin of 51.90%. The business had revenue of $6.20 million during the quarter.

Institutional Investors Weigh In On Cango

A number of hedge funds and other institutional investors have recently made changes to their positions in CANG. Cetera Advisors LLC acquired a new position in Cango in the first quarter worth approximately $150,000. International Assets Investment Management LLC increased its stake in shares of Cango by 99.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,485 shares of the company’s stock worth $580,000 after purchasing an additional 16,235 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Cango by 48.1% during the 2nd quarter. Acadian Asset Management LLC now owns 19,922 shares of the company’s stock valued at $32,000 after purchasing an additional 6,467 shares in the last quarter. 4.22% of the stock is owned by hedge funds and other institutional investors.

Cango Company Profile

Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturers, financial institutions, car buyers, insurance brokers, and companies in the People's Republic of China. The company offers automobile trading solutions comprising car sourcing, transaction facilitation, logistics, and warehousing support for dealers through Cango Haoche app that offers new car transaction services, and Cango U-Car app that offers used-car transaction services.