Cango (CANG) Sets New 52-Week Low at $6.08

Share on StockTwits

Cango Inc – (NYSE:CANG)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.08 and last traded at $6.10, with a volume of 3740 shares changing hands. The stock had previously closed at $6.10.

Separately, Zacks Investment Research lowered shares of Cango from a “hold” rating to a “sell” rating in a report on Friday, March 15th.

The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.04 and a current ratio of 3.04. The firm has a market capitalization of $921.74 million and a price-to-earnings ratio of 19.35.

Cango (NYSE:CANG) last posted its earnings results on Wednesday, March 27th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.14). The firm had revenue of $46.71 million during the quarter. Cango had a return on equity of 14.26% and a net margin of 27.82%. On average, equities research analysts expect that Cango Inc – will post 1.04 EPS for the current fiscal year.

The company also recently announced a special dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 9th.

An institutional investor recently raised its position in Cango stock. Primavera Capital Management Ltd increased its stake in shares of Cango Inc – (NYSE:CANG) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,243,939 shares of the company’s stock after acquiring an additional 1,089,607 shares during the period. Cango comprises about 3.0% of Primavera Capital Management Ltd’s portfolio, making the stock its 4th largest position. Primavera Capital Management Ltd owned about 4.13% of Cango worth $49,577,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 21.89% of the company’s stock.

WARNING: “Cango (CANG) Sets New 52-Week Low at $6.08” was first published by Macon Daily and is owned by of Macon Daily. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://macondaily.com/2019/05/17/cango-cang-sets-new-52-week-low-at-6-08.html.

Cango Company Profile (NYSE:CANG)

Cango Inc operates an automotive transaction service platform that connects dealers, financial institutions, car buyers, and other industry participants in the People's Republic of China. It facilitates automotive financing services that include facilitating financing transactions from financial institutions to car buyers; automotive transactions between automotive wholesalers, dealers, and car buyers; and after-market services to car buyers.

Featured Article: How to calculate the annual rate of depreciation

Receive News & Ratings for Cango Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cango and related companies with MarketBeat.com's FREE daily email newsletter.