Cango Inc. (NYSE:CANG) Short Interest Update

Cango Inc. (NYSE:CANG) was the recipient of a large growth in short interest in the month of 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. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 184,000 shares, the days-to-cover ratio is currently 0.5 days.

Cango Price Performance

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

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Cetera Advisors LLC bought a new stake in shares of Cango in the first quarter valued at approximately $150,000. International Assets Investment Management LLC raised its stake in Cango by 99.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,485 shares of the company’s stock valued at $580,000 after purchasing an additional 16,235 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Cango by 48.1% in 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 during the period. 4.22% of the stock is owned by 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.