Short Interest in Cango Inc. (NYSE:CANG) Declines By 6.3%

Cango Inc. (NYSE:CANG) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totalling 14,900 shares, a decline of 6.3% from the August 31st total of 15,900 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 35,300 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Cango

A hedge fund recently bought a new stake in Cango stock. Cetera Advisors LLC bought a new stake in Cango Inc. (NYSE:CANG) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 98,450 shares of the company’s stock, valued at approximately $150,000. Cetera Advisors LLC owned approximately 0.09% of Cango as of its most recent filing with the SEC. 4.22% of the stock is owned by institutional investors and hedge funds.

Cango Trading Down 2.2 %

Shares of NYSE CANG traded down $0.04 during midday trading on Tuesday, reaching $1.74. 19,126 shares of the company were exchanged, compared to its average volume of 51,993. Cango has a 1 year low of $0.92 and a 1 year high of $2.08. The stock has a fifty day simple moving average of $1.73 and a 200 day simple moving average of $1.64. The stock has a market cap of $189.53 million, a P/E ratio of -43.75 and a beta of 0.68.

Cango (NYSE:CANG) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.10 earnings per share (EPS) for the quarter. Cango had a net margin of 3.61% and a return on equity of 0.55%. The company had revenue of $6.20 million during the quarter.

About Cango

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.