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Cango Inc. (NYSE:CANG) Short Interest Update

Cango logo with Computer and Technology background

Cango Inc. (NYSE:CANG - Get Free Report) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 993,500 shares, an increase of 166.1% from the December 15th total of 373,400 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 652,800 shares, the days-to-cover ratio is currently 1.5 days.

Cango Price Performance

Cango stock traded up $0.19 during mid-day trading on Tuesday, reaching $4.46. The company had a trading volume of 379,745 shares, compared to its average volume of 951,881. The stock's 50-day simple moving average is $4.46 and its 200-day simple moving average is $2.75. Cango has a 1 year low of $1.02 and a 1 year high of $9.66. The company has a market capitalization of $485.77 million, a P/E ratio of 26.24 and a beta of 0.75.

Institutional Trading of Cango

An institutional investor recently raised its position in Cango stock. International Assets Investment Management LLC increased its stake in shares of Cango Inc. (NYSE:CANG - Free Report) by 99.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,485 shares of the company's stock after purchasing an additional 16,235 shares during the period. International Assets Investment Management LLC's holdings in Cango were worth $580,000 as of its most recent SEC filing. Institutional investors and hedge funds own 4.22% of the company's stock.

Cango Company Profile

(Get 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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