Cango (NYSE:CANG) Shares Down 4.3% – What’s Next?

by · The Cerbat Gem

Cango Inc. Sponsored ADR (NYSE:CANG – Get Free Report) was down 4.3% during mid-day trading on Thursday . The stock traded as low as $1.44 and last traded at $1.4550. Approximately 740,238 shares were traded during mid-day trading, The stock had previously closed at $1.52.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Greenridge Global raised shares of Cango to a “strong-buy” rating in a research note on Monday, December 22nd. HC Wainwright reduced their target price on Cango from $8.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, December 4th. Zacks Research upgraded Cango from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Cango in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $3.00.

Get Our Latest Report on CANG

Cango Stock Performance

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $1.63 and a two-hundred day moving average price of $3.61.

Cango (NYSE:CANG – Get Free Report) last issued its earnings results on Tuesday, December 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.39. Cango had a positive return on equity of 2.29% and a negative net margin of 46.40%.The company had revenue of $3.28 million during the quarter, compared to analysts’ expectations of $1.20 billion.

Institutional Trading of Cango

A hedge fund recently raised its stake in Cango stock. BNP Paribas Financial Markets grew its position in Cango Inc. Sponsored ADR (NYSE:CANG – Free Report) by 34.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,923 shares of the company’s stock after buying an additional 4,082 shares during the period. BNP Paribas Financial Markets’ holdings in Cango were worth $68,000 as of its most recent SEC filing. Institutional investors own 4.22% of the company’s stock.

Cango Company Profile

(Get Free Report)

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.

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