Cango Inc. (NYSE:CANG - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $4.26, but opened at $4.37. Cango shares last traded at $4.73, with a volume of 109,381 shares.
Cango Stock Performance
The business has a fifty day moving average of $4.22 and a two-hundred day moving average of $3.55. The firm has a market cap of $443.84 million, a price-to-earnings ratio of 23.97 and a beta of 0.76.
Cango (NYSE:CANG - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported $0.07 earnings per share for the quarter. Cango had a net margin of 51.90% and a return on equity of 3.55%. The company had revenue of $91.52 million during the quarter.
Cango announced that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.
Institutional Investors Weigh In On Cango
Several large investors have recently bought and sold shares of CANG. Nomura Holdings Inc. bought a new position in Cango during the fourth quarter worth about $49,000. Boothbay Fund Management LLC bought a new stake in shares of Cango during the 4th quarter valued at approximately $57,000. Tidal Investments LLC acquired a new position in shares of Cango in the fourth quarter valued at approximately $120,000. Virtu Financial LLC bought a new stake in shares of Cango in the fourth quarter worth $190,000. Finally, Millennium Management LLC acquired a new position in shares of Cango in the fourth quarter worth approximately $232,000. Institutional investors own 4.22% of the company's stock.
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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