Cango Inc. (NYSE:CANG) Short Interest Up 45.9% in August

Cango Inc. (NYSE:CANG) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 15,900 shares, an increase of 45.9% from the August 15th total of 10,900 shares. Based on an average daily volume of 32,500 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the company’s stock are short sold.

Cango Trading Down 1.9 %

Shares of Cango stock opened at $1.53 on Monday. Cango has a 12 month low of $0.92 and a 12 month high of $2.08. The firm has a market capitalization of $166.64 million, a P/E ratio of -38.25 and a beta of 0.68. The business has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $1.64.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cango stock. Acadian Asset Management LLC lifted its stake in Cango Inc. (NYSE:CANG) by 48.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,922 shares of the company’s stock after purchasing an additional 6,467 shares during the quarter. Acadian Asset Management LLC’s holdings in Cango were worth $32,000 as of its most recent filing with the Securities & Exchange Commission. 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.