Zacks: Cango Inc – (CANG) Receives Consensus Rating of “Strong Buy” from Analysts

Shares of Cango Inc – (NYSE:CANG) have earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating. Cango’s rating score has improved by 33.3% in the last 90 days as a result of various analysts’ ratings changes.

Analysts have set a 12 month consensus target price of $12.90 for the company and are anticipating that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also assigned Cango an industry rank of 160 out of 255 based on the ratings given to its competitors.

Separately, Zacks Investment Research cut shares of Cango from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th.

Several hedge funds have recently made changes to their positions in CANG. Warburg Pincus LLC acquired a new position in shares of Cango in the third quarter valued at approximately $302,687,000. Primavera Capital Management Ltd acquired a new position in shares of Cango in the third quarter valued at approximately $58,399,000. Laurion Capital Management LP acquired a new position in shares of Cango in the third quarter valued at approximately $427,000. Finally, Point72 Hong Kong Ltd acquired a new position in Cango during the 3rd quarter worth approximately $209,000. Hedge funds and other institutional investors own 21.89% of the company’s stock.

Shares of CANG traded down $0.12 during trading on Tuesday, reaching $7.43. 2,496 shares of the company traded hands, compared to its average volume of 2,789. Cango has a twelve month low of $6.67 and a twelve month high of $13.90. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.11.

About Cango

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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