Cango Inc. (NYSE:CANG) Short Interest Up 166.1% in January

Cango Inc. (NYSE:CANG) was the recipient of a significant 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. Based on an average daily volume of 652,800 shares, the short-interest ratio is currently 1.5 days. Approximately 1.5% of the company’s shares are short sold.

Institutional Trading of Cango

A hedge fund recently raised its stake in Cango stock. International Assets Investment Management LLC boosted its stake in shares of Cango Inc. (NYSE:CANG) by 99.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,485 shares of the company’s stock after buying 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 reporting period. Hedge funds and other institutional investors own 4.22% of the company’s stock.

Cango Stock Down 1.9 %

Shares of CANG traded down $0.09 during mid-day trading on Friday, hitting $4.78. 74,970 shares of the company’s stock traded hands, compared to its average volume of 604,308. The firm has a market capitalization of $520.20 million, a P/E ratio of 27.91 and a beta of 0.75. The business’s 50-day moving average price is $4.75 and its 200-day moving average price is $3.00. Cango has a 1 year low of $1.12 and a 1 year high of $9.66.

Cango Company Profile

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.