Short Interest in Cango Inc. (NYSE:CANG) Increases By 140.1%

Cango Inc. (NYSE:CANG) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 373,400 shares, an increase of 140.1% from the November 30th total of 155,500 shares. Based on an average daily volume of 538,200 shares, the short-interest ratio is currently 0.7 days. Approximately 0.6% of the company’s stock are sold short.

Cango Price Performance

CANG opened at $5.20 on Friday. The stock has a 50-day moving average price of $3.78 and a 200-day moving average price of $2.46. The firm has a market cap of $566.37 million, a PE ratio of 30.59 and a beta of 0.79. Cango has a 1 year low of $0.95 and a 1 year high of $9.66.

Institutional Investors Weigh In On Cango

An institutional investor recently raised its position in Cango stock. Acadian Asset Management LLC lifted its holdings in Cango Inc. (NYSE:CANG) by 48.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,922 shares of the company’s stock after purchasing an additional 6,467 shares during the period. Acadian Asset Management LLC’s holdings in Cango were worth $32,000 at the end of the most recent reporting period. 4.22% of the stock is owned by hedge funds and other institutional investors.

Cango Company Profile

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.