Cango Inc – (NYSE:CANG) Sees Large Decrease in Short Interest

Cango Inc – (NYSE:CANG) was the target of a large decline in short interest during the month of March. As of March 13th, there was short interest totalling 400 shares, a decline of 42.9% from the February 27th total of 700 shares. Based on an average daily volume of 18,400 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

An institutional investor recently bought a new position in Cango stock. UBS Group AG bought a new position in shares of Cango Inc – (NYSE:CANG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,890 shares of the company’s stock, valued at approximately $26,000. Institutional investors own 21.80% of the company’s stock.

Several brokerages have recently weighed in on CANG. TheStreet upgraded Cango from a “d+” rating to a “c-” rating in a report on Friday, December 6th. Zacks Investment Research upgraded Cango from a “strong sell” rating to a “hold” rating in a report on Monday, January 20th. Finally, Morgan Stanley cut Cango from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 27th.

Shares of Cango stock traded up $0.39 on Thursday, hitting $5.35. 24,549 shares of the company were exchanged, compared to its average volume of 19,440. The stock has a market capitalization of $750.94 million, a price-to-earnings ratio of 14.46 and a beta of 1.84. The company has a 50-day moving average price of $7.05 and a 200 day moving average price of $6.88. Cango has a 1-year low of $4.52 and a 1-year high of $9.82. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.04.

Cango Company Profile

Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.

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