Cango (NYSE:CANG) Downgraded by TheStreet to “D”

TheStreet downgraded shares of Cango (NYSE:CANGGet Rating) from a c rating to a d rating in a report released on Wednesday, TheStreetRatingsTable reports.

Cango Price Performance

Shares of CANG opened at $2.10 on Wednesday. The company’s 50 day moving average price is $2.49 and its 200 day moving average price is $2.73. Cango has a 52 week low of $1.95 and a 52 week high of $4.64. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.05.

Cango (NYSE:CANGGet Rating) last announced its quarterly earnings data on Monday, August 29th. The company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($1.20). The company had revenue of $43.18 million for the quarter, compared to analysts’ expectations of $49.05 million. Cango had a negative net margin of 23.94% and a negative return on equity of 10.58%. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, sell-side analysts forecast that Cango will post -0.91 earnings per share for the current fiscal year.

Institutional Trading of Cango

A number of institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in shares of Cango in the second quarter worth $26,000. Legacy Wealth Asset Management LLC bought a new stake in shares of Cango in the 4th quarter worth about $45,000. Aspiriant LLC grew its holdings in shares of Cango by 37.5% in the 1st quarter. Aspiriant LLC now owns 16,500 shares of the company’s stock worth $43,000 after purchasing an additional 4,500 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Cango in the 2nd quarter worth about $44,000. Finally, Penserra Capital Management LLC bought a new stake in shares of Cango in the 1st quarter worth about $90,000. 22.51% of the stock is currently owned by institutional investors and hedge funds.

Cango Company Profile

(Get Rating)

Cango Inc operates an automotive transaction service platform that connects dealers, original equipment manufacturer, financial institutions, car buyers, and other industry participants in the People's Republic of China. The company offers automobile trading solutions, including car sourcing, logistics, and warehousing support for dealers; and facilitation of car purchases for car buyers.

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