Cango Inc. (NYSE:CANG) Short Interest Up 140.1% in December

Cango Inc. (NYSE:CANG) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 373,400 shares, a growth of 140.1% from the November 30th total of 155,500 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 538,200 shares, the short-interest ratio is currently 0.7 days.

Cango Stock Down 5.4 %

CANG opened at $4.92 on Friday. The firm has a market cap of $535.88 million, a PE ratio of 28.94 and a beta of 0.79. The business has a fifty day simple moving average of $3.91 and a 200-day simple moving average of $2.50. Cango has a fifty-two week low of $0.95 and a fifty-two week high of $9.66.

Hedge Funds Weigh In On Cango

A hedge fund recently raised its stake in Cango stock. International Assets Investment Management LLC boosted its stake in shares of Cango Inc. (NYSE:CANG) by 99.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,485 shares of the company’s stock after buying an additional 16,235 shares during the period. International Assets Investment Management LLC’s holdings in Cango were worth $580,000 at the end of the most recent reporting period. 4.22% of the stock is currently 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.