Cango Inc – (NYSE:CANG) shares reached a new 52-week low on Tuesday . The company traded as low as $5.84 and last traded at $5.84, with a volume of 1558 shares trading hands. The stock had previously closed at $5.86.
Separately, Zacks Investment Research downgraded 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 company has a market cap of $885.48 million and a price-to-earnings ratio of 18.84.
Cango (NYSE:CANG) last released its quarterly earnings data on Wednesday, March 27th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.14). The company had revenue of $46.71 million for the quarter. Cango had a net margin of 27.82% and a return on equity of 14.26%. As a group, equities analysts predict that Cango Inc – will post 1.04 earnings per share for the current year.
The company also recently announced a special dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 9th.
A hedge fund recently raised its stake in Cango stock. Primavera Capital Management Ltd grew its position in Cango Inc – (NYSE:CANG) by 21.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,243,939 shares of the company’s stock after buying an additional 1,089,607 shares during the period. Cango accounts for about 3.0% of Primavera Capital Management Ltd’s portfolio, making the stock its 4th largest position. Primavera Capital Management Ltd owned approximately 4.13% of Cango worth $49,577,000 at the end of the most recent reporting period. 21.89% of the stock is currently owned by institutional investors.
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About Cango (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.
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