Cango Inc. (NYSE:CANG) Short Interest Up 2,075.6% in November

Cango Inc. (NYSE:CANG) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 97,900 shares, an increase of 2,075.6% from the October 31st total of 4,500 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 184,000 shares, the short-interest ratio is presently 0.5 days.

Cango Trading Up 6.9 %

CANG traded up $0.27 during trading on Wednesday, reaching $4.17. The stock had a trading volume of 216,126 shares, compared to its average volume of 89,335. The company has a market capitalization of $454.20 million, a price-to-earnings ratio of 22.94 and a beta of 0.63. Cango has a one year low of $0.92 and a one year high of $4.21. The stock’s 50 day moving average is $2.45 and its two-hundred day moving average is $1.98.

Cango (NYSE:CANG) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.10 EPS for the quarter. The firm had revenue of $6.20 million during the quarter. Cango had a net margin of 51.90% and a return on equity of 3.55%.

Institutional Trading of Cango

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its stake in Cango by 48.1% during the second quarter. Acadian Asset Management LLC now owns 19,922 shares of the company’s stock worth $32,000 after buying an additional 6,467 shares during the period. Cetera Advisors LLC bought a new position in shares of Cango during the first quarter valued at approximately $150,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Cango by 99.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,485 shares of the company’s stock worth $580,000 after purchasing an additional 16,235 shares during the last quarter. 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.