Cango (NYSE:CANG) Stock Rating Upgraded by Wall Street Zen

Cango (NYSE:CANG) was upgraded by Wall Street Zen to a “sell” rating in a research note issued on Saturday.

A number of other brokerages have also recently commented on CANG. Zacks Research cut Cango from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Weiss Ratings raised Cango from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Cango currently has an average rating of “Hold” and an average target price of $30.00.

Cango Stock Performance

NYSE:CANG opened at $1.68 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $2.96 and a two-hundred day moving average price of $6.12. Cango has a twelve month low of $1.60 and a twelve month high of $21.00. The company has a market capitalization of $29.84 million, a P/E ratio of -0.05 and a beta of 1.06.

Cango (NYSE:CANG) last announced its quarterly earnings results on Monday, June 1st. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.54). The business had revenue of $102.00 million during the quarter, compared to analysts’ expectations of $100.41 million. Cango had a negative net margin of 125.53% and a negative return on equity of 105.01%. As a group, research analysts expect that Cango will post -7.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in Cango by 34.5% during the third quarter. BNP Paribas Financial Markets now owns 15,923 shares of the company’s stock valued at $68,000 after acquiring an additional 4,082 shares during the period. Jump Financial LLC purchased a new position in shares of Cango in the 2nd quarter worth about $246,000. CI Investments Inc. lifted its stake in shares of Cango by 206.7% in the 4th quarter. CI Investments Inc. now owns 105,456 shares of the company’s stock valued at $158,000 after purchasing an additional 71,076 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Cango in the 4th quarter valued at about $1,677,000. 4.22% of the stock is owned by hedge funds and other institutional investors.

Cango Company Profile

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.