Compass Point started coverage on shares of Canaan (NASDAQ:CAN - Free Report) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $2.50 price target on the stock.
CAN has been the topic of several other reports. HC Wainwright restated a "buy" rating and issued a $3.00 price objective on shares of Canaan in a report on Tuesday, March 4th. Rosenblatt Securities restated a "buy" rating and issued a $8.00 price objective on shares of Canaan in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Canaan currently has an average rating of "Moderate Buy" and an average target price of $3.88.
View Our Latest Analysis on Canaan
Canaan Trading Down 3.3 %
NASDAQ:CAN traded down $0.03 on Tuesday, hitting $0.96. The stock had a trading volume of 23,615,780 shares, compared to its average volume of 11,188,214. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.08. The stock has a market cap of $269.92 million, a price-to-earnings ratio of -0.71 and a beta of 3.39. The company has a fifty day moving average price of $1.61 and a two-hundred day moving average price of $1.59. Canaan has a 1-year low of $0.72 and a 1-year high of $3.27.
Institutional Investors Weigh In On Canaan
Large investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC purchased a new stake in Canaan during the 4th quarter worth approximately $32,000. Raymond James Financial Inc. purchased a new stake in Canaan during the 4th quarter worth approximately $33,000. Wellington Management Group LLP purchased a new stake in Canaan during the 4th quarter worth approximately $48,000. Chesapeake Capital Corp IL purchased a new stake in Canaan during the 4th quarter worth approximately $79,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Canaan during the 4th quarter worth approximately $83,000. 70.14% of the stock is owned by hedge funds and other institutional investors.
About Canaan
(
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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.
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