Cango (NYSE:CANG) Announces Earnings Results

Cango (NYSE:CANG – Get Rating) posted its quarterly earnings results on Thursday. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($1.09), Fidelity Earnings reports. Cango had a net margin of 3.52% and a return on equity of 1.78%. During the same period in the prior year, the company earned ($0.28) earnings per share. Cango updated its Q2 2022 guidance to EPS.

CANG stock opened at $3.08 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $2.90 and a two-hundred day moving average price of $3.02. The company has a market cap of $430.40 million, a price-to-earnings ratio of 25.67 and a beta of 0.73. Cango has a twelve month low of $1.95 and a twelve month high of $6.04.

The business also recently declared a — dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, May 25th will be paid a $0.98 dividend. The ex-dividend date is Tuesday, May 24th.

A number of hedge funds have recently bought and sold shares of the business. Morgan Stanley lifted its position in shares of Cango by 95.7% in the first quarter. Morgan Stanley now owns 5,236 shares of the company’s stock valued at $44,000 after buying an additional 2,560 shares during the last quarter. Citigroup Inc. lifted its position in shares of Cango by 17.7% in the fourth quarter. Citigroup Inc. now owns 28,990 shares of the company’s stock valued at $91,000 after buying an additional 4,352 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Cango by 28.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 20,100 shares of the company’s stock valued at $63,000 after buying an additional 4,500 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Cango by 4.7% in the first quarter. Cetera Investment Advisers now owns 112,050 shares of the company’s stock valued at $290,000 after buying an additional 5,000 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Cango by 55.2% in the third quarter. Jane Street Group LLC now owns 22,031 shares of the company’s stock valued at $89,000 after buying an additional 7,836 shares during the last quarter. Hedge funds and other institutional investors own 22.51% of the company’s stock.

About Cango (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.

Featured Articles