Cango Inc. (NYSE:CANG – Get Free Report) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 993,500 shares, a growth of 166.1% from the December 31st total of 373,400 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily trading volume, of 652,800 shares, the short-interest ratio is presently 1.5 days.
Cango Trading Up 3.0 %
CANG traded up $0.14 on Thursday, hitting $4.87. The company had a trading volume of 304,990 shares, compared to its average volume of 632,926. Cango has a 1 year low of $1.12 and a 1 year high of $9.66. The firm has a market cap of $530.66 million, a P/E ratio of 28.66 and a beta of 0.75. The company’s fifty day moving average price is $4.73 and its 200 day moving average price is $2.99.
Institutional Trading of Cango
An institutional investor recently raised its position in Cango stock. International Assets Investment Management LLC raised its stake in Cango Inc. (NYSE:CANG – Free Report) by 99.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,485 shares of the company’s stock after purchasing an additional 16,235 shares during the period. International Assets Investment Management LLC’s holdings in Cango were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 4.22% of the company’s stock.
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.
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