Cango (NYSE:CANG) Stock Price Down 1.6% - Here's What Happened

Key Points

• Cango posted a dramatic quarterly miss — EPS of ($1.60) versus consensus ($0.27) and revenue of $179.45 million versus an expected $1.24 billion, leaving the company with a negative ROE (49.13%) and an -83.92% net margin.
• Shares fell 1.6% to $0.426 on Friday on sharply reduced trading volume (≈261,714 shares, down 78% from average), leaving a market cap of about $88.4 million and trading well below its 50‑ and 200‑day moving averages.
• Analysts are mixed — MarketBeat shows an average rating of Hold (one Strong Buy, one Buy, two Sell) with an average price target of $3.00.

Cango Inc. Sponsored ADR (NYSE:CANG - Get Free Report)'s share price was down 1.6% during trading on Friday . The stock traded as low as $0.42 and last traded at $0.4260. Approximately 261,714 shares changed hands during trading, a decline of 78% from the average daily volume of 1,190,199 shares. The stock had previously closed at $0.4330.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CANG shares. Zacks Research lowered Cango from a "hold" rating to a "strong sell" rating in a research report on Monday, March 16th. Greenridge Global raised Cango to a "strong-buy" rating in a research report on Monday, December 22nd. Finally, HC Wainwright reissued a "buy" rating and set a $3.00 price objective on shares of Cango in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Cango presently has an average rating of "Hold" and an average price target of $3.00.

Cango Trading Down 1.6%

The firm has a 50-day moving average price of $0.68 and a 200-day moving average price of $1.87. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.20 and a current ratio of 0.71. The stock has a market cap of $88.42 million, a PE ratio of -0.14 and a beta of 0.92.

Cango (NYSE:CANG - Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($1.33). The company had revenue of $179.45 million during the quarter, compared to analysts' expectations of $1.24 billion. Cango had a negative return on equity of 49.13% and a negative net margin of 83.92%.

Hedge Funds Weigh In On Cango

Several large investors have recently modified their holdings of CANG. Jump Financial LLC purchased a new position in shares of Cango in the 2nd quarter worth about $246,000. BNP Paribas Financial Markets raised its position in shares of Cango by 34.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,923 shares of the company's stock worth $68,000 after purchasing an additional 4,082 shares during the last quarter. CI Investments Inc. raised its position in shares of Cango by 206.7% in the 4th quarter. CI Investments Inc. now owns 105,456 shares of the company's stock worth $158,000 after purchasing an additional 71,076 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Cango in the 4th quarter worth about $1,677,000. Hedge funds and other institutional investors own 4.22% of the company's stock.

Cango Company Profile

Cango Inc (“Cango”) is a leading smart automotive transaction service provider in China, headquartered in Shanghai. The company operates an online‐to‐offline platform that integrates vehicle sourcing, financing, distribution and insurance, offering a comprehensive ecosystem for automakers, dealers and consumers. Leveraging big data analytics and cloud computing, Cango connects buyers and sellers through its proprietary digital infrastructure, facilitating transparent and efficient transactions across the automotive value chain.

Cango's core offerings include auto financing solutions for new and used vehicles, extended consumer loans and wealth management products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.