Cango Inc. Sponsored ADR (NYSE:CANG - Get Free Report)'s share price fell 3.9% during mid-day trading on Monday . The stock traded as low as $5.08 and last traded at $5.11. 735,047 shares were traded during trading, an increase of 86% from the average session volume of 395,812 shares. The stock had previously closed at $5.32.
Analyst Ratings Changes
Separately, HC Wainwright started coverage on shares of Cango in a report on Wednesday. They issued a "buy" rating and a $8.00 price target on the stock.
Get Our Latest Stock Analysis on CANG
Cango Stock Performance
The stock has a market capitalization of $538.10 million, a PE ratio of -259.12 and a beta of 0.70. The business's 50-day moving average price is $4.85 and its 200 day moving average price is $4.38.
Hedge Funds Weigh In On Cango
Institutional investors and hedge funds have recently made changes to their positions in the business. Nomura Holdings Inc. purchased a new position in shares of Cango in the fourth quarter valued at about $49,000. Boothbay Fund Management LLC bought a new stake in shares of Cango during the 4th quarter valued at $57,000. Tidal Investments LLC purchased a new stake in Cango in the fourth quarter worth about $120,000. Virtu Financial LLC purchased a new stake in shares of Cango in the 4th quarter worth approximately $190,000. Finally, Millennium Management LLC bought a new position in shares of Cango during the fourth quarter valued at $232,000. Institutional investors own 4.22% of the company's stock.
About Cango
(
Get Free Report)
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.
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