Short Interest in Cango Inc. (NYSE:CANG) Rises By 166.1%

Cango Inc. (NYSE:CANG) was the recipient of a large 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 sold short. Based on an average daily trading volume, of 652,800 shares, the short-interest ratio is presently 1.5 days.

Cango Stock Up 1.0 %

CANG stock traded up $0.05 during midday trading on Wednesday, reaching $4.76. The company’s stock had a trading volume of 151,248 shares, compared to its average volume of 650,332. The business’s 50-day simple moving average is $4.72 and its 200-day simple moving average is $2.97. The stock has a market cap of $517.91 million, a PE ratio of 27.97 and a beta of 0.75. Cango has a 52 week low of $1.12 and a 52 week high of $9.66.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cango stock. International Assets Investment Management LLC increased its holdings in shares of Cango Inc. (NYSE:CANG) by 99.9% during the 3rd quarter, according to its most recent 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 at the end of the most recent quarter. 4.22% of the stock is owned by institutional investors and hedge funds.

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.