Cango (NYSE:CANG - Get Free Report) declared that its board has approved a share repurchase program on Thursday, March 13th, RTT News reports. The company plans to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
Cango Trading Up 12.7 %
Shares of CANG stock traded up $0.48 during trading hours on Monday, reaching $4.26. 867,317 shares of the stock were exchanged, compared to its average volume of 261,856. Cango has a 12-month low of $1.32 and a 12-month high of $9.66. The company's 50-day moving average price is $4.28 and its 200-day moving average price is $3.49. The firm has a market capitalization of $463.99 million, a price-to-earnings ratio of 25.06 and a beta of 0.76.
Cango (NYSE:CANG - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.07 EPS for the quarter. Cango had a net margin of 51.90% and a return on equity of 3.55%. The firm had revenue of $91.52 million during the quarter.
Cango Company Profile
(
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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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