Cango Inc. (NYSE:CANG) Sees Significant Growth in Short Interest

Cango Inc. (NYSE:CANGGet Free Report) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 373,400 shares, an increase of 140.1% from the November 30th total of 155,500 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 538,200 shares, the short-interest ratio is presently 0.7 days.

Cango Trading Down 5.4 %

CANG opened at $4.92 on Friday. The stock has a fifty day moving average price of $3.91 and a 200 day moving average price of $2.50. Cango has a 1 year low of $0.95 and a 1 year high of $9.66. The stock has a market cap of $535.88 million, a price-to-earnings ratio of 28.94 and a beta of 0.79.

Institutional Trading of Cango

An institutional investor recently raised its position in Cango stock. International Assets Investment Management LLC lifted its stake in Cango Inc. (NYSE:CANGFree Report) by 99.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,485 shares of the company’s stock after acquiring an additional 16,235 shares during the period. International Assets Investment Management LLC’s holdings in Cango were worth $580,000 at the end of the most recent reporting period. 4.22% of the stock is currently owned by hedge funds and other institutional investors.

Cango Company Profile

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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.

Further Reading

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