Cango (NYSE:CANG) Given “Buy” Rating at HC Wainwright

Cango (NYSE:CANG)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $3.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 222.58% from the company’s current price.

Several other equities research analysts have also recently weighed in on CANG. Zacks Research cut shares of Cango from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Greenridge Global raised shares of Cango to a “strong-buy” rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cango presently has an average rating of “Moderate Buy” and a consensus target price of $3.00.

Cango Stock Down 4.5%

Shares of Cango stock opened at $0.93 on Tuesday. Cango has a 12-month low of $0.88 and a 12-month high of $2.10. The stock has a 50 day moving average price of $1.33 and a two-hundred day moving average price of $3.12. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $193.04 million, a P/E ratio of -0.72 and a beta of 0.58.

Cango (NYSE:CANG) last released its earnings results on Tuesday, December 2nd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.39. Cango had a negative net margin of 46.40% and a positive return on equity of 2.29%. The firm had revenue of $3.28 million during the quarter, compared to analyst estimates of $1.20 billion.

Institutional Trading of Cango

A hedge fund recently bought a new stake in Cango stock. Jump Financial LLC purchased a new stake in Cango Inc. Sponsored ADR (NYSE:CANG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,819 shares of the company’s stock, valued at approximately $246,000. Hedge funds and other institutional investors own 4.22% of the company’s stock.

About Cango

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.