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

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

Institutional Trading of Cango

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

Cango Stock Performance

Shares of NYSE:CANG traded up $0.06 during mid-day trading on Friday, hitting $2.02. The company had a trading volume of 59,581 shares, compared to its average volume of 45,352. The firm has a fifty day moving average price of $1.65 and a 200 day moving average price of $1.44. Cango has a one year low of $0.92 and a one year high of $2.07.

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

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.