Cango Inc – (NYSE:CANG) Sees Large Decrease in Short Interest

Cango Inc – (NYSE:CANG) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totalling 400 shares, a decrease of 42.9% from the February 27th total of 700 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 18,400 shares, the days-to-cover ratio is currently 0.0 days.

Shares of CANG stock traded up $0.39 on Thursday, reaching $5.35. 24,549 shares of the stock were exchanged, compared to its average volume of 19,440. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average price is $7.05 and its 200 day moving average price is $6.88. The company has a market capitalization of $750.94 million, a price-to-earnings ratio of 14.46 and a beta of 1.84. Cango has a twelve month low of $4.52 and a twelve month high of $9.82.

A hedge fund recently bought a new stake in Cango stock. UBS Group AG bought a new position in shares of Cango Inc – (NYSE:CANG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,890 shares of the company’s stock, valued at approximately $26,000. Institutional investors own 21.80% of the company’s stock.

A number of analysts have recently weighed in on CANG shares. Zacks Investment Research raised Cango from a “strong sell” rating to a “hold” rating in a research report on Monday, January 20th. TheStreet upgraded shares of Cango from a “d+” rating to a “c-” rating in a research note on Friday, December 6th. Finally, Morgan Stanley downgraded shares of Cango from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, November 27th.

About Cango

Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.

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