Cango Inc. (NYSE:CANG - Get Free Report)'s stock price fell 6.5% during mid-day trading on Friday . The company traded as low as $4.83 and last traded at $4.86. 199,450 shares traded hands during mid-day trading, an increase of 12% from the average session volume of 178,389 shares. The stock had previously closed at $5.20.
Cango Trading Down 5.4 %
The stock has a market capitalization of $535.88 million, a P/E ratio of 28.94 and a beta of 0.79. The company has a 50-day moving average price of $3.85 and a 200 day moving average price of $2.48.
Institutional Trading of Cango
A hedge fund recently raised its stake in Cango stock. International Assets Investment Management LLC grew its stake in shares of Cango Inc. (NYSE:CANG - Free Report) by 99.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,485 shares of the company's stock after acquiring an additional 16,235 shares during the quarter. International Assets Investment Management LLC's holdings in Cango were worth $580,000 as of its most recent SEC filing. 4.22% of the stock is currently owned by institutional investors and hedge funds.
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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