Short Interest in Cango Inc. (NYSE:CANG) Grows By 45.9%

Cango Inc. (NYSE:CANG) saw a large increase in short interest during the month of 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. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 32,500 shares, the short-interest ratio is currently 0.5 days.

Cango Price Performance

Cango stock traded down $0.03 during trading hours on Friday, reaching $1.53. The company had a trading volume of 26,482 shares, compared to its average volume of 48,714. The firm has a market cap of $166.64 million, a price-to-earnings ratio of -38.25 and a beta of 0.68. Cango has a 12-month low of $0.92 and a 12-month high of $2.08. The company has a 50-day moving average price of $1.80 and a 200 day moving average price of $1.64.

Cango (NYSE:CANG) last issued its earnings results on Wednesday, June 12th. The company reported $0.11 EPS for the quarter. The company had revenue of $8.92 million for the quarter. Cango had a net margin of 3.61% and a return on equity of 0.55%.

Institutional Investors Weigh In On Cango

An institutional investor recently raised its position in Cango stock. Acadian Asset Management LLC raised its holdings in Cango Inc. (NYSE:CANG) by 48.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,922 shares of the company’s stock after buying an additional 6,467 shares during the quarter. Acadian Asset Management LLC’s holdings in Cango were worth $32,000 at the end of the most recent quarter. 4.22% of the stock is owned by institutional investors and hedge funds.

About Cango

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.