Cango Inc. (NYSE:CANG) Short Interest Update

Cango Inc. (NYSE:CANG) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 54,700 shares, an increase of 166.8% from the May 15th total of 20,500 shares. Based on an average trading volume of 50,600 shares, the short-interest ratio is currently 1.1 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Cango

An institutional investor recently bought a new position in Cango stock. Cetera Advisors LLC acquired a new position in shares of Cango Inc. (NYSE:CANG) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 Price Performance

Shares of Cango stock opened at $1.67 on Friday. Cango has a 1 year low of $0.92 and a 1 year high of $1.96. The business has a 50-day moving average of $1.54 and a two-hundred day moving average of $1.34. The company has a market capitalization of $181.90 million, a P/E ratio of -41.75 and a beta of 0.78.

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.