BIT Capital GmbH purchased a new stake in Cango Inc. (NYSE:CANG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 834,062 shares of the company's stock, valued at approximately $3,670,000. BIT Capital GmbH owned 0.77% of Cango as of its most recent filing with the Securities and Exchange Commission.
Separately, Virtu Financial LLC acquired a new position in Cango in the fourth quarter valued at approximately $190,000. Hedge funds and other institutional investors own 4.22% of the company's stock.
Cango Price Performance
Shares of NYSE:CANG traded down $0.03 during mid-day trading on Monday, hitting $3.90. The company had a trading volume of 72,106 shares, compared to its average volume of 275,757. Cango Inc. has a one year low of $1.32 and a one year high of $9.66. The firm has a fifty day moving average price of $4.18 and a 200 day moving average price of $3.67. The company has a market capitalization of $424.78 million, a PE ratio of 22.95 and a beta of 0.76.
Cango (NYSE:CANG - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.07 earnings per share for the quarter. The firm had revenue of $91.52 million for the quarter. Cango had a net margin of 51.90% and a return on equity of 3.55%.
Cango declared that its board has authorized a share repurchase plan on Thursday, March 13th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are 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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