Cango Inc. (NYSE:CANG) Short Interest Down 6.3% in September

Cango Inc. (NYSE:CANG) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 14,900 shares, a decline of 6.3% from the August 31st total of 15,900 shares. Based on an average trading volume of 35,300 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the company’s shares are short sold.

Cango Trading Up 7.7 %

Shares of CANG stock opened at $1.82 on Monday. Cango has a twelve month low of $0.92 and a twelve month high of $2.08. The stock has a market cap of $198.23 million, a price-to-earnings ratio of -45.50 and a beta of 0.68. The company’s 50-day moving average price is $1.73 and its 200-day moving average price is $1.64.

Cango (NYSE:CANG) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.10 earnings per share (EPS) for the quarter. Cango had a net margin of 3.61% and a return on equity of 0.55%. The business had revenue of $6.20 million during the quarter.

Hedge Funds Weigh In On Cango

An institutional investor recently raised its position in Cango stock. Acadian Asset Management LLC raised its position in shares of Cango Inc. (NYSE:CANG) by 48.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,922 shares of the company’s stock after buying an additional 6,467 shares during the period. Acadian Asset Management LLC’s holdings in Cango were worth $32,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 4.22% of the company’s stock.

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.