Cango (NYSE:CANG) Sees Unusually-High Trading Volume – What’s Next?

Cango Inc. (NYSE:CANG) shares saw an uptick in trading volume on Monday . 282,950 shares were traded during trading, an increase of 181% from the previous session’s volume of 100,640 shares.The stock last traded at $4.67 and had previously closed at $4.57.

Cango Trading Up 2.4 %

The stock’s fifty day simple moving average is $2.87 and its 200-day simple moving average is $2.13. The company has a market capitalization of $509.74 million, a price-to-earnings ratio of 27.65 and a beta of 0.79.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its position in shares of Cango by 48.1% in 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. International Assets Investment Management LLC lifted its position in shares of Cango by 99.9% in the third 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 in the last quarter. Finally, Cetera Advisors LLC acquired a new position in Cango in the 1st quarter valued at approximately $150,000. 4.22% of the stock is currently 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.