Cango (NYSE:CANG) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Cango (NYSE:CANG) to a sell rating in a research report report published on Saturday.

A number of other research analysts have also issued reports on the company. Zacks Research lowered Cango from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded Cango from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.00.

Cango Price Performance

Cango stock opened at $1.68 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.15. Cango has a 52-week low of $1.60 and a 52-week high of $21.00. The firm has a market cap of $29.84 million, a PE ratio of -0.05 and a beta of 1.06. The company’s 50 day moving average is $2.96 and its two-hundred day moving average is $6.19.

Cango (NYSE:CANG) last posted its quarterly 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 return on equity of 105.01% and a negative net margin of 125.53%.The business had revenue of $102.00 million during the quarter, compared to analyst estimates of $100.41 million. On average, research analysts expect that Cango will post -7.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Cango

Several hedge funds have recently added to or reduced their stakes in CANG. BNP Paribas Financial Markets grew its position in shares of Cango by 34.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,923 shares of the company’s stock valued at $68,000 after buying an additional 4,082 shares during the last quarter. Jump Financial LLC acquired a new stake in Cango during the 2nd quarter worth $246,000. CI Investments Inc. lifted its position in Cango by 206.7% in the fourth quarter. CI Investments Inc. now owns 105,456 shares of the company’s stock valued at $158,000 after acquiring an additional 71,076 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Cango in the fourth quarter valued at $1,677,000. 4.22% of the stock is currently owned by hedge funds and other institutional investors.

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.