Cango Inc. (NYSE:CANG - Get Free Report)'s stock price fell 8.1% during trading on Thursday . The stock traded as low as $7.32 and last traded at $7.35. 586,889 shares were traded during mid-day trading, an increase of 283% from the average session volume of 153,388 shares. The stock had previously closed at $8.00.
Cango Price Performance
The business has a 50 day simple moving average of $3.44 and a 200-day simple moving average of $2.34. The stock has a market capitalization of $627.37 million, a price-to-earnings ratio of 33.88 and a beta of 0.79.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Cango stock. Acadian Asset Management LLC boosted its holdings in Cango Inc. (NYSE:CANG - Free Report) by 48.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,922 shares of the company's stock after purchasing an additional 6,467 shares during the period. Acadian Asset Management LLC's holdings in Cango were worth $32,000 as of its most recent filing with the Securities and Exchange Commission. 4.22% of the stock is owned by institutional investors.
About Cango
(
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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