Canaan’s (CAN) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Canaan (NASDAQ:CAN) in a report released on Tuesday,Benzinga reports. They currently have a $8.00 price objective on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Canaan in a research report on Wednesday, January 22nd.

Canaan Trading Down 1.6 %

NASDAQ CAN opened at $1.24 on Tuesday. Canaan has a 12 month low of $0.72 and a 12 month high of $3.27. 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’s fifty day moving average price is $1.84 and its 200-day moving average price is $1.59. The stock has a market cap of $349.16 million, a P/E ratio of -0.92 and a beta of 3.39.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC purchased a new stake in Canaan in the fourth quarter worth about $32,000. Raymond James Financial Inc. bought a new stake in Canaan during the 4th quarter valued at $33,000. Wellington Management Group LLP purchased a new position in shares of Canaan in the 4th quarter valued at $48,000. Chesapeake Capital Corp IL bought a new position in shares of Canaan in the 4th quarter worth $79,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Canaan during the 4th quarter worth $83,000. 70.14% of the stock is currently owned by institutional investors.

Canaan Company Profile

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.