Cango Inc. Sponsored ADR (NYSE:CANG) Short Interest Update

Cango Inc. Sponsored ADR (NYSE:CANG) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 424,789 shares, an increase of 55.3% from the August 15th total of 273,486 shares. Based on an average trading volume of 834,528 shares, the short-interest ratio is presently 0.5 days. Currently, 3.4% of the company’s shares are short sold.

Cango Price Performance

CANG stock opened at $2.67 on Friday. Cango has a 12 month low of $1.36 and a 12 month high of $21.00. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $1.92 and a 200 day moving average price of $3.46. The stock has a market cap of $47.43 million, a PE ratio of -0.11 and a beta of 1.20.

Cango (NYSE:CANG) last announced its quarterly earnings data on Monday, August 31st. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($1.09). The firm had revenue of $50.78 million during the quarter, compared to the consensus estimate of $60.02 million. Cango had a negative return on equity of 165.48% and a negative net margin of 107.22%. Equities research analysts anticipate that Cango will post -7.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wall Street Zen lowered Cango from a “sell” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cango in a research note on Friday, August 21st. Finally, Zacks Research upgraded Cango from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

About Cango

Cango Inc is a technology company that historically operated an automotive transaction and service platform in China. Its platform connected consumers, automobile dealers, financial institutions, insurers and other participants in the vehicle market, supporting services related to vehicle purchases, financing, insurance and ownership.

Founded in 2010 and headquartered in Shanghai, Cango developed its business primarily for the Chinese automotive market. The company’s services were designed to help dealers and consumers complete automotive transactions while providing access to related financial and insurance products.

In 2024, Cango announced a strategic expansion into digital-asset infrastructure through the acquisition of bitcoin-mining equipment and related operations.