Short Interest in Cango Inc. (NYSE:CANG) Rises By 166.1%

Cango Inc. (NYSE:CANG) saw a significant growth in short interest in 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. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 652,800 shares, the short-interest ratio is presently 1.5 days.

Cango Trading Up 1.0 %

Shares of NYSE CANG traded up $0.05 during midday trading on Wednesday, reaching $4.76. The company’s stock had a trading volume of 151,248 shares, compared to its average volume of 650,332. The stock has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $2.97. The stock has a market capitalization of $517.91 million, a price-to-earnings ratio of 27.97 and a beta of 0.75. Cango has a fifty-two week low of $1.12 and a fifty-two week high of $9.66.

Institutional Investors Weigh In On Cango

An institutional investor recently raised its stake in Cango stock. International Assets Investment Management LLC increased its position in shares of Cango Inc. (NYSE:CANG) by 99.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 4.22% of the company’s stock.

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.