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

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

Institutional Investors Weigh In On Cango

An institutional investor recently raised its position in Cango stock. Acadian Asset Management LLC boosted its position in Cango Inc. (NYSE:CANG) by 48.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC). 4.22% of the stock is currently owned by institutional investors and hedge funds.

Cango Trading Down 2.8 %

CANG stock opened at $1.73 on Wednesday. The stock has a market cap of $188.43 million, a P/E ratio of -43.25 and a beta of 0.68. The stock’s fifty day simple moving average is $1.73 and its two-hundred day simple moving average is $1.64. Cango has a 1-year low of $0.92 and a 1-year high of $2.08.

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

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.