Cango (NYSE:CANG) Stock Price Up 1.7% – Should You Buy?

Cango Inc. (NYSE:CANG)’s stock price traded up 1.7% during trading on Tuesday . The stock traded as high as $1.80 and last traded at $1.78. 8,174 shares were traded during trading, a decline of 84% from the average session volume of 51,981 shares. The stock had previously closed at $1.75.

Cango Price Performance

The stock has a market cap of $193.87 million, a P/E ratio of -44.50 and a beta of 0.69. The company has a fifty day moving average of $1.71 and a 200 day moving average of $1.68.

Cango (NYSE:CANG) last announced its earnings results on Thursday, August 29th. The company reported $0.10 EPS for the quarter. Cango had a return on equity of 0.55% and a net margin of 3.61%. The firm had revenue of $6.20 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its holdings in shares of Cango by 48.1% in the second quarter. Acadian Asset Management LLC now owns 19,922 shares of the company’s stock valued at $32,000 after buying an additional 6,467 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Cango during the 1st quarter valued at $150,000. Finally, International Assets Investment Management LLC raised its stake in Cango by 99.9% during the 3rd quarter. International Assets Investment Management LLC now owns 32,485 shares of the company’s stock valued at $580,000 after purchasing an additional 16,235 shares during the period. 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.