Cango Inc. (NYSE:CANG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $5.16 and last traded at $5.14, with a volume of 421791 shares trading hands. The stock had previously closed at $4.46.
Cango Trading Up 20.5 %
The company has a 50 day simple moving average of $3.14 and a 200 day simple moving average of $2.23. The stock has a market cap of $585.43 million, a P/E ratio of 32.29 and a beta of 0.79.
Institutional Investors Weigh In On Cango
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of Cango by 99.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,485 shares of the company's stock worth $580,000 after purchasing an additional 16,235 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Cango by 48.1% during the second quarter. Acadian Asset Management LLC now owns 19,922 shares of the company's stock worth $32,000 after buying an additional 6,467 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new position in Cango during the first quarter worth approximately $150,000. 4.22% of the stock is currently owned by institutional investors and hedge funds.
About Cango
(
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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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