Canaan Inc. (NASDAQ:CAN - Get Free Report)'s share price was down 8.6% on Monday . The company traded as low as $2.11 and last traded at $2.12. Approximately 4,484,220 shares changed hands during trading, a decline of 64% from the average daily volume of 12,324,560 shares. The stock had previously closed at $2.32.
Analysts Set New Price Targets
CAN has been the topic of a number of research reports. Rosenblatt Securities raised their price target on Canaan from $3.00 to $4.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. B. Riley began coverage on Canaan in a report on Wednesday, September 18th. They issued a "buy" rating and a $2.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $3.00 price target on shares of Canaan in a research report on Thursday, November 21st.
View Our Latest Stock Report on Canaan
Canaan Price Performance
The firm has a market cap of $580.06 million, a PE ratio of -1.53 and a beta of 3.24. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $1.76 and a 200-day simple moving average of $1.27.
Hedge Funds Weigh In On Canaan
Institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of Canaan during the second quarter valued at approximately $34,000. XTX Topco Ltd purchased a new stake in shares of Canaan in the second quarter valued at approximately $79,000. Virtu Financial LLC raised its position in Canaan by 35.2% during the 3rd quarter. Virtu Financial LLC now owns 103,394 shares of the company's stock valued at $104,000 after purchasing an additional 26,920 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Canaan by 38.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 109,409 shares of the company's stock worth $111,000 after buying an additional 30,447 shares during the period. Finally, Impact Partnership Wealth LLC grew its position 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 in the last quarter. Institutional investors own 70.14% of the company's stock.
About Canaan
(
Get 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.
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