Exchange Traded Concepts LLC purchased a new position in shares of Canaan Inc. (NASDAQ:CAN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,369,340 shares of the company's stock, valued at approximately $2,807,000. Exchange Traded Concepts LLC owned approximately 0.49% of Canaan as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in CAN. Vanguard Personalized Indexing Management LLC purchased a new stake in Canaan during the 2nd quarter worth about $34,000. XTX Topco Ltd purchased a new stake in shares of Canaan during the second quarter worth approximately $79,000. Farther Finance Advisors LLC increased its stake in shares of Canaan by 38.6% during the third 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. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Canaan in the third quarter valued at approximately $556,000. Finally, Prime Capital Investment Advisors LLC lifted its stake in Canaan by 4.9% in the third quarter. Prime Capital Investment Advisors LLC now owns 914,385 shares of the company's stock worth $924,000 after acquiring an additional 42,774 shares during the last quarter. Hedge funds and other institutional investors own 70.14% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. HC Wainwright reissued a "buy" rating and issued a $3.00 price objective on shares of Canaan in a research report on Wednesday. Rosenblatt Securities raised their price target on Canaan from $3.00 to $4.00 and gave the company a "buy" rating in a research note on Friday, December 6th.
Read Our Latest Stock Report on CAN
Canaan Trading Down 1.4 %
Shares of NASDAQ:CAN traded down $0.03 during trading on Friday, hitting $2.09. 16,946,262 shares of the company were exchanged, compared to its average volume of 15,588,256. The firm's 50 day moving average price is $2.19 and its 200-day moving average price is $1.45. Canaan Inc. has a 12-month low of $0.72 and a 12-month high of $3.27. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.08.
Canaan Profile
(
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.
Featured Stories
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
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
