Cango (NYSE:CANG) Announces Earnings Results

Cango (NYSE:CANG) released its quarterly earnings results on Monday. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($1.33), Zacks reports. Cango had a negative net margin of 46.40% and a positive return on equity of 2.29%. The firm had revenue of $179.45 million for the quarter, compared to the consensus estimate of $1.24 billion.

Here are the key takeaways from Cango’s conference call:

• Cango completed its pivot to Bitcoin mining, reporting full-year revenue of $688.1 million, producing ~6,595.6 BTC in 2025 and delivering a positive adjusted EBITDA of $24.5 million.
• Net loss of $622 million in 2025 was driven by sizable one-time transformation costs, large impairments on mining equipment and equity-settled items, and fair-value losses on Bitcoin and receivables.
• The company rapidly scaled to ~50 exahash/sec (~4–5% of the network) but faced very high mining costs (Q4 cash cost ≈ $84,552 per coin excl. depreciation; all-in ≈ $106,251), prompting plans to phase out inefficient rigs and temporarily reduce hash rate to improve energy efficiency.
• Management has taken balance-sheet actions to reduce leverage, including selling 4,451 BTC in Feb 2026 to repay loans and securing a $10.5M shareholder injection plus ~$65M in additional funding commitments to strengthen liquidity.
• The new AI initiative, EcoHash, will pilot modular AI inference nodes (a 1–2 MW Georgia retrofit) with a conservative 4–6 month build timeline and potential initial revenue in 2026, but commercial scale and unit economics remain at an early validation stage.

Cango Stock Up 7.6%

Shares of Cango stock opened at $0.70 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. The company has a market cap of $145.51 million, a P/E ratio of -0.54 and a beta of 0.71. The firm’s 50 day moving average price is $1.05 and its 200-day moving average price is $2.40. Cango has a 52-week low of $0.57 and a 52-week high of $2.10.

Hedge Funds Weigh In On Cango

Institutional investors and hedge funds have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Cango during the fourth quarter worth $1,677,000. CI Investments Inc. boosted its holdings in Cango by 206.7% in the fourth quarter. CI Investments Inc. now owns 105,456 shares of the company’s stock worth $158,000 after acquiring an additional 71,076 shares in the last quarter. Jump Financial LLC acquired a new stake in Cango in the second quarter worth about $246,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Cango by 34.5% during the third quarter. BNP Paribas Financial Markets now owns 15,923 shares of the company’s stock worth $68,000 after acquiring an additional 4,082 shares during the last quarter. 4.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CANG. HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of Cango in a research report on Tuesday, February 10th. Zacks Research downgraded shares of Cango from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Greenridge Global upgraded Cango to a “strong-buy” rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $3.00.

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.