Electron Capital Partners LLC bought a new position in shares of Cango Inc. (NYSE:CANG - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,339,700 shares of the company's stock, valued at approximately $5,895,000. Cango makes up about 0.3% of Electron Capital Partners LLC's investment portfolio, making the stock its 29th largest position. Electron Capital Partners LLC owned approximately 1.23% of Cango at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Boothbay Fund Management LLC acquired a new position in shares of Cango in the fourth quarter worth $57,000. Virtu Financial LLC acquired a new position in Cango in the 4th quarter valued at about $190,000. Marshall Wace LLP purchased a new position in Cango in the 4th quarter valued at about $351,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Cango during the 4th quarter worth about $463,000. Finally, HCEP Management Ltd purchased a new stake in shares of Cango during the fourth quarter worth about $1,738,000. Hedge funds and other institutional investors own 4.22% of the company's stock.
Cango Price Performance
Shares of CANG remained flat at $4.06 on Friday. 134,284 shares of the company traded hands, compared to its average volume of 291,460. Cango Inc. has a fifty-two week low of $1.40 and a fifty-two week high of $9.66. The firm has a 50-day moving average price of $3.76 and a 200 day moving average price of $4.04. The stock has a market cap of $421.36 million, a price-to-earnings ratio of 23.88 and a beta of 0.66.
Cango (NYSE:CANG - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter. Cango had a return on equity of 3.55% and a net margin of 51.90%. The firm had revenue of $91.52 million for the quarter.
Cango announced that its board has approved a share repurchase program on Thursday, March 13th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Cango Profile
(
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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