Cango (NYSE:CANG) Trading 1.9% Higher – Still a Buy?

Cango Inc. Sponsored ADR (NYSE:CANG) shares rose 1.9% during mid-day trading on Thursday . The stock traded as high as $0.2340 and last traded at $0.2153. 897,806 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 2,138,606 shares. The stock had previously closed at $0.2112.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Zacks Research cut Cango from a “hold” rating to a “strong sell” rating in a report on Wednesday. Weiss Ratings upgraded shares of Cango from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Cango from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Cango has a consensus rating of “Hold” and a consensus target price of $3.00.

Cango Trading Up 1.5%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $0.39 and its two-hundred day moving average is $0.74. The firm has a market cap of $38.25 million, a price-to-earnings ratio of -0.06 and a beta of 1.06.

Cango (NYSE:CANG) last released its earnings results on Monday, June 1st. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.54). Cango had a negative net margin of 125.53% and a negative return on equity of 105.01%. The firm had revenue of $102.00 million during the quarter, compared to analyst estimates of $100.41 million. Equities analysts anticipate that Cango Inc. Sponsored ADR will post -0.71 earnings per share for the current fiscal year.

Institutional Trading of Cango

A number of institutional investors and hedge funds have recently modified their holdings of CANG. BNP Paribas Financial Markets grew its holdings 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 purchasing an additional 4,082 shares during the period. CI Investments Inc. raised its holdings in Cango by 206.7% in the fourth quarter. CI Investments Inc. now owns 105,456 shares of the company’s stock worth $158,000 after purchasing an additional 71,076 shares during the period. Jump Financial LLC bought a new position in shares of Cango during the second quarter worth $246,000. Finally, Marshall Wace LLP bought a new position in shares of Cango during the fourth quarter worth $1,677,000. 4.22% of the stock is owned by 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.