Cango (NYSE:CANG) Rating Lowered to Strong Sell at Wall Street Zen

Cango (NYSE:CANG – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently weighed in on CANG. Weiss Ratings restated a “sell (d-)” rating on shares of Cango in a research note on Friday, August 21st. Zacks Research upgraded shares of Cango from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.00.

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Cango Stock Performance

Shares of CANG stock opened at $2.67 on Friday. The firm has a market cap of $47.42 million, a price-to-earnings ratio of -0.11 and a beta of 1.20. Cango has a 52-week low of $1.36 and a 52-week high of $21.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $1.92 and its 200 day moving average is $3.43.

Cango (NYSE:CANG – Get Free Report) last posted its earnings results on Monday, August 31st. The company reported ($1.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($1.09). The company had revenue of $50.78 million for the quarter, compared to analysts’ expectations of $60.02 million. Cango had a negative return on equity of 165.48% and a negative net margin of 107.22%. On average, sell-side analysts anticipate that Cango will post -7.1 EPS for the current fiscal year.

Cango Company Profile

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Cango Inc is a technology company that historically operated an automotive transaction and service platform in China. Its platform connected consumers, automobile dealers, financial institutions, insurers and other participants in the vehicle market, supporting services related to vehicle purchases, financing, insurance and ownership.

Founded in 2010 and headquartered in Shanghai, Cango developed its business primarily for the Chinese automotive market. The company’s services were designed to help dealers and consumers complete automotive transactions while providing access to related financial and insurance products.

In 2024, Cango announced a strategic expansion into digital-asset infrastructure through the acquisition of bitcoin-mining equipment and related operations.

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