Cango Inc. (NYSE:CANG - Get Free Report) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 373,400 shares, a growth of 140.1% from the November 30th total of 155,500 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 538,200 shares, the days-to-cover ratio is currently 0.7 days.
Institutional Investors Weigh In On Cango
A hedge fund recently raised its stake in Cango stock. Acadian Asset Management LLC raised its holdings in shares of Cango Inc. (NYSE:CANG - Free Report) by 48.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,922 shares of the company's stock after acquiring an additional 6,467 shares during the quarter. Acadian Asset Management LLC's holdings in Cango were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 4.22% of the stock is owned by institutional investors.
Cango Price Performance
Shares of CANG traded down $0.28 during mid-day trading on Friday, hitting $4.92. The stock had a trading volume of 785,459 shares, compared to its average volume of 180,825. Cango has a 52 week low of $0.95 and a 52 week high of $9.66. The business has a fifty day moving average price of $3.85 and a 200-day moving average price of $2.48. The firm has a market cap of $535.88 million, a P/E ratio of 28.94 and a beta of 0.79.
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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