Cango Inc. Sponsored ADR (NYSE:CANG) Short Interest Update

Cango Inc. Sponsored ADR (NYSE:CANG) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 384,211 shares, a drop of 89.8% from the July 15th total of 3,748,510 shares. Based on an average trading volume of 139,895 shares, the short-interest ratio is presently 2.7 days. Currently, 3.1% of the company’s shares are short sold.

Cango Stock Performance

CANG traded up $0.03 on Thursday, reaching $2.22. The stock had a trading volume of 295,988 shares, compared to its average volume of 120,496. The company has a market cap of $39.45 million, a P/E ratio of -0.06 and a beta of 1.11. Cango has a 12-month low of $1.36 and a 12-month high of $21.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $2.17 and its two-hundred day moving average price is $4.84.

Cango (NYSE:CANG) last issued its quarterly earnings results on Monday, June 1st. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.54). The company had revenue of $102.00 million during the quarter, compared to analysts’ expectations of $100.41 million. Cango had a negative net margin of 125.53% and a negative return on equity of 105.01%. Sell-side analysts forecast that Cango will post -7.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CANG shares. Zacks Research raised shares of Cango from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of Cango to a “sell” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings raised Cango from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Institutional Trading of Cango

A number of large investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in Cango in the fourth quarter valued at approximately $1,677,000. CI Investments Inc. increased its holdings in shares of Cango by 206.7% in the fourth quarter. CI Investments Inc. now owns 105,456 shares of the company’s stock valued at $158,000 after purchasing an additional 71,076 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Cango by 34.5% in the third quarter. BNP Paribas Financial Markets now owns 15,923 shares of the company’s stock valued at $68,000 after purchasing an additional 4,082 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Cango during the second quarter worth approximately $246,000. Hedge funds and other institutional investors own 4.22% of the company’s stock.

About Cango

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.