Cango Inc. (NYSE:CANG) Short Interest Update

Cango Inc. (NYSE:CANG) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 27,700 shares, an increase of 31.9% from the March 15th total of 21,000 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 60,000 shares, the short-interest ratio is currently 0.5 days.

Cango Trading Up 1.4 %

Shares of NYSE:CANG opened at $1.46 on Monday. The firm has a market cap of $196.79 million, a price-to-earnings ratio of -20.85 and a beta of 0.88. Cango has a 12-month low of $0.92 and a 12-month high of $1.88. The stock’s 50-day moving average price is $1.46 and its two-hundred day moving average price is $1.22.

Cango (NYSE:CANG) last released its quarterly earnings data on Monday, March 11th. The company reported ($0.13) earnings per share for the quarter. The firm had revenue of $18.34 million during the quarter. Cango had a negative net margin of 2.04% and a negative return on equity of 0.88%.

Hedge Funds Weigh In On Cango

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new position in shares of Cango in the 2nd quarter valued at about $26,000. Waverly Advisors LLC purchased a new stake in shares of Cango during the 1st quarter valued at about $30,000. Jane Street Group LLC purchased a new stake in shares of Cango during the 2nd quarter valued at about $44,000. Virtu Financial LLC purchased a new stake in shares of Cango during the 4th quarter valued at about $49,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Cango during the 1st quarter valued at about $57,000. 4.22% of the stock is owned by institutional investors and hedge funds.

Cango Company Profile

Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturer, financial institutions, car buyers, and other industry participants in the People's Republic of China. The company offers automobile trading solutions comprising car sourcing, 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; and facilitation of car purchases for car buyers.