Cango Inc. (NYSE:CANG) Short Interest Update

Cango Inc. (NYSE:CANG - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 27,700 shares, a growth of 31.9% from the March 15th total of 21,000 shares. Based on an average daily volume of 60,000 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the company's shares are sold short.

Institutional Investors Weigh In On Cango

A number of hedge funds have recently made changes to their positions in the stock. Millennium Management LLC acquired a new stake in Cango during the 2nd quarter worth approximately $26,000. Jane Street Group LLC acquired a new position in shares of Cango in the 2nd quarter worth approximately $44,000. Waverly Advisors LLC acquired a new position in shares of Cango in the 1st quarter worth approximately $30,000. Penserra Capital Management LLC acquired a new position in shares of Cango in the 1st quarter worth approximately $90,000. Finally, Virtu Financial LLC acquired a new position in shares of Cango in the 4th quarter worth approximately $49,000. 4.22% of the stock is currently owned by institutional investors and hedge funds.

Cango Price Performance

CANG stock traded up $0.02 during trading hours on Friday, reaching $1.46. The stock had a trading volume of 27,581 shares, compared to its average volume of 29,451. The stock has a market capitalization of $196.79 million, a PE ratio of -20.85 and a beta of 0.88. The stock has a 50-day simple moving average of $1.46 and a 200 day simple moving average of $1.22. Cango has a fifty-two week low of $0.92 and a fifty-two week high of $1.88.

Cango (NYSE:CANG - Get Free Report) last posted its earnings results on Monday, March 11th. The company reported ($0.13) earnings per share (EPS) for the quarter. Cango had a negative return on equity of 0.88% and a negative net margin of 2.04%. The company had revenue of $18.34 million for the quarter.

About Cango

Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturer, financial institutions, car buyers, and other industry participants in the People's Republic of China. The company offers automobile trading solutions comprising car sourcing, 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; and facilitation of car purchases for car buyers.