Cango Inc. (NYSE:CANG) Short Interest Update

Cango Inc. (NYSE:CANG) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 993,500 shares, an increase of 166.1% from the December 15th total of 373,400 shares. Based on an average daily trading volume, of 652,800 shares, the short-interest ratio is currently 1.5 days. Currently, 1.5% of the shares of the stock are sold short.

Hedge Funds Weigh In On Cango

A hedge fund recently raised its stake in Cango stock. Acadian Asset Management LLC boosted its holdings in Cango Inc. (NYSE:CANG) by 48.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,922 shares of the company’s stock after acquiring an additional 6,467 shares during the period. Acadian Asset Management LLC’s holdings in Cango were worth $32,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 4.22% of the company’s stock.

Cango Price Performance

NYSE CANG traded up $0.12 during trading hours on Wednesday, hitting $4.62. 401,106 shares of the company’s stock traded hands, compared to its average volume of 890,678. The firm’s 50-day moving average is $4.49 and its 200-day moving average is $2.77. Cango has a 52-week low of $1.02 and a 52-week high of $9.66. The company has a market capitalization of $503.20 million, a PE ratio of 27.18 and a beta of 0.75.

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.