Cango (NYSE:CANG) Earns Buy Rating from HC Wainwright

Cango (NYSE:CANG)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $3.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 222.58% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Greenridge Global raised shares of Cango to a “strong-buy” rating in a report on Monday, December 22nd. Zacks Research cut Cango from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.00.

Cango Stock Performance

Shares of CANG stock opened at $0.93 on Tuesday. The stock has a market cap of $193.04 million, a PE ratio of -0.72 and a beta of 0.58. The stock has a 50-day moving average of $1.33 and a 200-day moving average of $3.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 1.20. Cango has a one year low of $0.88 and a one year high of $2.10.

Cango (NYSE:CANG) last issued its quarterly earnings data on Tuesday, December 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.39. Cango had a negative net margin of 46.40% and a positive return on equity of 2.29%. The firm had revenue of $3.28 million during the quarter, compared to analysts’ expectations of $1.20 billion.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cango stock. Jump Financial LLC acquired a new position in shares of Cango Inc. Sponsored ADR (NYSE:CANG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 50,819 shares of the company’s stock, valued at approximately $246,000. Hedge funds and other institutional investors own 4.22% of the company’s stock.

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.