Stocks of Cango Inc. (NYSE:CANG) traded higher last session on Wall Street, down -0.70% to $1.42.
According to the data, Cango Inc. (NYSE:CANG) has 1 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $19.08 and a low of $19.08, we find $19.08. Given the previous closing price of $1.43, this indicates a potential upside of 1234.27 percent. CANG stock price is now 0.07% away from the 50-day moving average and 1.02% away from the 200-day moving average. The market capitalization of the company currently stands at $199.79M.
A total of 1 analysts have issued a hold rating and 0 have given it a buy rating. Brokers who have rated the stock have averaged $19.08 as their price target over the next twelve months.
On September 04, 2018, Goldman recently initiated its ‘Neutral’ rating on the stock quoting a target price of $11.90.
A total of 8.65% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CANG stock. A new stake in Cango Inc. shares was purchased by CITADEL ADVISORS LLC during the first quarter worth $61,000. JPMORGAN CHASE & CO invested $6,000 in shares of CANG during the first quarter. In the first quarter, MY PERSONAL CFO, LLC acquired a new stake in Cango Inc. valued at approximately $3,000. TOWER RESEARCH CAPITAL LLC (TRC) acquired a new stake in CANG for approximately $2,000. In total, there are 44 active investors with 31.30% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $1.4400 for Cango Inc. (NYSE: CANG). During the past 12 months, Cango Inc. has had a low of $0.82 and a high of $2.06. As of last week, the company has a debt-to-equity ratio of 0.18, a current ratio of 2.80, and a quick ratio of 2.80. The fifty day moving average price for CANG is $1.7316 and a two-hundred day moving average price translates $2.3982 for the stock.
The latest earnings results from Cango Inc. (NYSE: CANG) was released for Jun, 2022. According to the Internet Content & Information Company, earnings per share came in at -$0.19, missing analysts’ expectations of -$0.04 by -0.15. This compares to -$0.45 EPS in the same period last year. The net profit margin was -16.80% and return on equity was -6.70% for CANG. The company reported revenue of $58.54 million for the quarter, compared to $124.26 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -52.88 percent. For the current quarter, analysts expect CANG to generate $56.38M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/23/2022. Investors who held shares on 10/24/2022 were paid a $1.00 dividend.
Cango Inc.(CANG) Company Profile
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. It also facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; and after-market services to car buyers, which includes facilitating the sale of insurance policies from insurance brokers or companies. The company was founded in 2010 and is headquartered in Shanghai, the People’s Republic of China.