Cango (NYSE:CANG) Stock Rating Upgraded by Wall Street Zen

Cango (NYSE:CANG) was upgraded by stock analysts at Wall Street Zen to a “sell” rating in a research report issued on Saturday.

CANG has been the topic of several other research reports. Weiss Ratings raised shares of Cango from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Zacks Research lowered shares of Cango from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.00.

Cango Price Performance

Shares of CANG stock opened at $1.68 on Friday. The business’s fifty day moving average is $2.96 and its 200 day moving average is $6.19. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The stock has a market cap of $29.84 million, a price-to-earnings ratio of -0.05 and a beta of 1.06. Cango has a twelve month low of $1.60 and a twelve month high of $21.00.

Cango (NYSE:CANG) last announced its quarterly earnings data on Monday, June 1st. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.54). Cango had a negative net margin of 125.53% and a negative return on equity of 105.01%. The firm had revenue of $102.00 million for the quarter, compared to analysts’ expectations of $100.41 million. Research analysts expect that Cango will post -7.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Cango

Hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new stake in Cango during the 2nd quarter valued at $246,000. BNP Paribas Financial Markets boosted its position in shares of Cango by 34.5% during the third quarter. BNP Paribas Financial Markets now owns 15,923 shares of the company’s stock valued at $68,000 after buying an additional 4,082 shares during the last quarter. CI Investments Inc. increased its holdings in Cango by 206.7% in the 4th quarter. CI Investments Inc. now owns 105,456 shares of the company’s stock worth $158,000 after buying an additional 71,076 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Cango in the 4th quarter worth about $1,677,000. 4.22% of the stock is currently owned by hedge funds and other institutional investors.

Cango Company Profile

Cango Inc (“Cango”) is a leading smart automotive transaction service provider in China, headquartered in Shanghai. The company operates an online‐to‐offline platform that integrates vehicle sourcing, financing, distribution and insurance, offering a comprehensive ecosystem for automakers, dealers and consumers. Leveraging big data analytics and cloud computing, Cango connects buyers and sellers through its proprietary digital infrastructure, facilitating transparent and efficient transactions across the automotive value chain.

Cango’s core offerings include auto financing solutions for new and used vehicles, extended consumer loans and wealth management products.