Quadrature Capital Ltd raised its holdings in Canaan Inc. (NASDAQ:CAN - Free Report) by 329.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 544,976 shares of the company's stock after purchasing an additional 418,052 shares during the quarter. Quadrature Capital Ltd owned 0.18% of Canaan worth $550,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAN. Van ECK Associates Corp increased its holdings in Canaan by 55.4% in the 2nd quarter. Van ECK Associates Corp now owns 9,762,972 shares of the company's stock worth $9,761,000 after acquiring an additional 3,482,283 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Canaan during the 3rd quarter worth $556,000. Baader Bank Aktiengesellschaft increased its position in Canaan by 54.0% during the second quarter. Baader Bank Aktiengesellschaft now owns 825,876 shares of the company's stock worth $824,000 after purchasing an additional 289,629 shares during the last quarter. Impact Partnership Wealth LLC increased its holdings in shares of Canaan by 271.1% during the 2nd quarter. Impact Partnership Wealth LLC now owns 125,990 shares of the company's stock worth $126,000 after buying an additional 92,038 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Canaan during the 2nd quarter valued at approximately $79,000. 70.14% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Nomura Securities raised shares of Canaan to a "hold" rating in a research report on Monday, August 19th. B. Riley initiated coverage on Canaan in a research report on Wednesday, September 18th. They issued a "buy" rating and a $2.00 target price on the stock. Rosenblatt Securities upped their price target on Canaan from $3.00 to $4.00 and gave the stock a "buy" rating in a research note on Friday. Finally, HC Wainwright reissued a "buy" rating and set a $3.00 target price on shares of Canaan in a research note on Thursday, November 21st.
Get Our Latest Report on Canaan
Canaan Price Performance
NASDAQ CAN traded down $0.05 during trading hours on Monday, hitting $2.99. 33,824,587 shares of the company were exchanged, compared to its average volume of 11,929,256. The company has a 50 day moving average of $1.42 and a two-hundred day moving average of $1.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.03 and a quick ratio of 1.45. Canaan Inc. has a 52-week low of $0.72 and a 52-week high of $3.50.
About Canaan
(
Free Report)
Canaan Inc engages in the research, design, and sale of integrated circuit (IC) final mining equipment products by integrating IC products for bitcoin mining and related components in the People's Republic of China. It is also involved in the assembly and distribution of mining equipment and spare parts.
Read More
Before you consider Canaan, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Canaan wasn't on the list.
While Canaan currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
