Cango Inc. (NYSE:CANG) Short Interest Up 2,075.6% in November

Cango Inc. (NYSE:CANG) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 97,900 shares, an increase of 2,075.6% from the October 31st total of 4,500 shares. Based on an average daily trading volume, of 184,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Trading of Cango

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in shares of Cango by 48.1% in the second quarter. Acadian Asset Management LLC now owns 19,922 shares of the company’s stock valued at $32,000 after purchasing an additional 6,467 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Cango during the 1st quarter valued at approximately $150,000. Finally, International Assets Investment Management LLC raised its position in shares of Cango by 99.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,485 shares of the company’s stock valued at $580,000 after buying an additional 16,235 shares during the period. 4.22% of the stock is owned by institutional investors and hedge funds.

Cango Trading Up 6.9 %

NYSE CANG traded up $0.27 on Wednesday, hitting $4.17. 216,126 shares of the company’s stock traded hands, compared to its average volume of 89,335. Cango has a 1-year low of $0.92 and a 1-year high of $4.21. The firm has a market capitalization of $454.20 million, a PE ratio of 22.94 and a beta of 0.63. The firm’s 50-day moving average price is $2.45 and its two-hundred day moving average price is $1.98.

Cango (NYSE:CANG) last posted its earnings results on Thursday, August 29th. The company reported $0.10 earnings per share (EPS) for the quarter. Cango had a net margin of 51.90% and a return on equity of 3.55%. The firm had revenue of $6.20 million during the quarter.

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.