Cango (CANG) Hits New 52-Week Low at $7.02

Cango Inc – (NYSE:CANG)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $7.02 and last traded at $7.07, with a volume of 4349 shares traded. The stock had previously closed at $7.30.

Separately, Zacks Investment Research raised shares of Cango from a “sell” rating to a “hold” rating in a research note on Thursday, December 27th.

The company has a debt-to-equity ratio of 0.11, a current ratio of 5.62 and a quick ratio of 5.62.

Cango (NYSE:CANG) last released its quarterly earnings results on Thursday, November 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $41.52 million during the quarter. As a group, research analysts expect that Cango Inc – will post 0.37 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Warburg Pincus LLC purchased a new stake in Cango during the 3rd quarter worth approximately $302,687,000. Primavera Capital Management Ltd purchased a new stake in Cango during the 3rd quarter worth approximately $58,399,000. Laurion Capital Management LP purchased a new stake in Cango during the 3rd quarter worth approximately $427,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Cango during the 3rd quarter worth approximately $209,000. 21.19% of the stock is currently owned by institutional investors and hedge funds.

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Cango Company Profile (NYSE:CANG)

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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