HC Wainwright Reaffirms Bright Valley Buy Rating, Raises Price Target to $8

On September 10th, CanGu (Stock Code: CANG) received a bullish outlook from the U.S. analysis firm HC Wainwright. It reiterated its Buy rating on the stock and raised its price target to $8.00. The company's latest research report, which was released on September 2, 2025, emphasized Cango's strategic transformation towards Bitcoin mining and its potential long-term growth prospects. The report pointed out that Cango faced significant challenges in the second quarter of 2025. There was a net loss of 2.1 billion RMB due to one-time expenses. From Cango's financial reports, it can be understood that the net loss mainly results from two one-time accounting adjustments rather than substantial losses at the operational level. Although this adjustment temporarily reduced the book profit, it laid a solid foundation for future business expansion. The report further emphasized the company's operational resilience. After excluding these one-time expenses, Cango achieved an adjusted EBITDA of 710.1 million RMB. Bitcoin mining accounted for 98.9% of the total revenue. HC Wainwright's optimistic expectations are also based on Cango's positive expansion in the renewable energy sector and its asset-light model. The company recently acquired a 50-megawatt mining facility in Georgia, USA. This is seen as a strategic move to reduce energy costs and enhance scalability. The report also praised Cango for its focus on low-cost, clean energy, which aligns with broader ESG trends and may lead to operational cost savings.