Short Interest in Cango Inc. (NYSE:CANG) Decreases By 24.8%

Cango Inc. (NYSE:CANG) saw a large drop in short interest in June. As of June 30th, there was short interest totalling 19,100 shares, a drop of 24.8% from the June 15th total of 25,400 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 55,300 shares, the days-to-cover ratio is currently 0.3 days.

Cango Trading Up 3.1 %

NYSE:CANG traded up $0.06 on Friday, hitting $2.02. The stock had a trading volume of 59,581 shares, compared to its average volume of 45,352. The business’s 50-day simple moving average is $1.65 and its two-hundred day simple moving average is $1.44. Cango has a 52-week low of $0.92 and a 52-week high of $2.07.

Cango (NYSE:CANG) last announced its earnings results on Wednesday, June 12th. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $8.92 million for the quarter. Cango had a negative return on equity of 0.72% and a negative net margin of 2.30%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cango stock. Cetera Advisors LLC acquired a new stake in shares of Cango Inc. (NYSE:CANG) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 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 SEC filing. Hedge funds and other institutional investors own 4.22% of the company’s stock.

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.