Cango (NYSE:CANG) Stock Price Up 6.7%

Cango Inc. (NYSE:CANG)’s stock price was up 6.7% on Monday . The company traded as high as $1.61 and last traded at $1.59. Approximately 13,473 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 58,553 shares. The stock had previously closed at $1.49.

Cango Price Performance

The stock has a market cap of $178.08 million, a PE ratio of -23.71 and a beta of 0.78. The company’s fifty day moving average is $1.50 and its 200-day moving average is $1.31.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cango stock. Cetera Advisors LLC acquired a new stake in Cango Inc. (NYSE:CANG) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 98,450 shares of the company’s stock, valued at approximately $150,000. Cetera Advisors LLC owned approximately 0.09% of Cango at the end of the most recent reporting period. 4.22% of the stock is owned by institutional investors and hedge funds.

Cango Company Profile

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.