Cango (NYSE:CANG) Posts Quarterly Earnings Results, Misses Estimates By $1.09 EPS

Cango (NYSE:CANG) posted its earnings results on Monday. The company reported ($1.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($1.09), Zacks reports. Cango had a negative net margin of 125.53% and a negative return on equity of 105.01%.

Cango Price Performance

Shares of Cango stock traded up $0.14 on Monday, hitting $2.37. The company’s stock had a trading volume of 918,458 shares, compared to its average volume of 173,466. The company has a market capitalization of $42.11 million, a price-to-earnings ratio of -0.07 and a beta of 1.11. Cango has a 1 year low of $1.36 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average price of $1.95 and a 200-day moving average price of $4.10.

Institutional Trading of Cango

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cango in a report on Friday, August 21st. Zacks Research raised Cango from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Wall Street Zen raised Cango to a “sell” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.