Short Interest in Cango Inc. (NYSE:CANG) Grows By 45.9%

Cango Inc. (NYSE:CANG) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 15,900 shares, an increase of 45.9% from the August 15th total of 10,900 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 32,500 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of Cango

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

Cango Trading Down 1.9 %

NYSE CANG opened at $1.53 on Monday. Cango has a 12 month low of $0.92 and a 12 month high of $2.08. The firm has a market capitalization of $166.64 million, a PE ratio of -38.25 and a beta of 0.68. The business’s 50-day moving average price is $1.80 and its two-hundred day moving average price is $1.64.

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.