Canaan Inc. (NASDAQ:CAN - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $1.94, but opened at $1.79. Canaan shares last traded at $1.78, with a volume of 6,951,330 shares.
Wall Street Analysts Forecast Growth
CAN has been the subject of a number of research reports. HC Wainwright reiterated a "buy" rating and set a $3.00 target price on shares of Canaan in a research report on Thursday, November 21st. B. Riley initiated coverage on shares of Canaan in a research report on Wednesday, September 18th. They set a "buy" rating and a $2.00 price objective for the company. Finally, Rosenblatt Securities lifted their price objective on shares of Canaan from $3.00 to $4.00 and gave the stock a "buy" rating in a research note on Friday, December 6th.
Read Our Latest Stock Report on Canaan
Canaan Stock Performance
The company has a debt-to-equity ratio of 0.08, a current ratio of 2.03 and a quick ratio of 1.45. The business has a 50-day moving average of $2.09 and a 200-day moving average of $1.39. The company has a market capitalization of $495.58 million, a P/E ratio of -1.30 and a beta of 3.27.
Institutional Investors Weigh In On Canaan
Several institutional investors have recently made changes to their positions in CAN. Old Port Advisors purchased a new position in Canaan in the 4th quarter worth about $100,000. Virtu Financial LLC boosted its stake in shares of Canaan by 35.2% during the third 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. XTX Topco Ltd increased its holdings in Canaan by 193.3% during the third quarter. XTX Topco Ltd now owns 232,525 shares of the company's stock valued at $235,000 after buying an additional 153,255 shares during the period. State Street Corp raised its stake in Canaan by 0.3% in the third quarter. State Street Corp now owns 9,111,069 shares of the company's stock worth $9,202,000 after buying an additional 23,759 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in Canaan by 329.4% during the third quarter. Quadrature Capital Ltd now owns 544,976 shares of the company's stock worth $550,000 after buying an additional 418,052 shares during the period. 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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