Cango Inc – (CANG) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Cango Inc – (NYSE:CANG) have received an average broker rating score of 1.50 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation and one has given a strong buy recommendation to the company.

Brokers have set a 12 month consensus target price of $12.90 for the company, according to Zacks. Zacks has also assigned Cango an industry rank of 184 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research downgraded Cango from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th.

Large investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new position in Cango in the third quarter worth approximately $209,000. Laurion Capital Management LP acquired a new position in Cango during the third quarter valued at approximately $427,000. Primavera Capital Management Ltd acquired a new position in Cango during the third quarter valued at approximately $58,399,000. Finally, Warburg Pincus LLC acquired a new position in Cango during the third quarter valued at approximately $302,687,000. Hedge funds and other institutional investors own 21.19% of the company’s stock.

Shares of CANG remained flat at $$7.64 during trading hours on Tuesday. The stock had a trading volume of 71 shares, compared to its average volume of 625. Cango has a one year low of $7.18 and a one year high of $13.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.62 and a current ratio of 5.62.

Cango (NYSE:CANG) last issued its earnings results on Thursday, November 22nd. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $41.52 million during the quarter. On average, sell-side analysts expect that Cango will post 0.37 EPS for the current fiscal year.

About Cango

Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.

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