SRN Advisors LLC increased its holdings in Canaan Inc. (NASDAQ:CAN – Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 739,303 shares of the company’s stock after buying an additional 34,382 shares during the period. SRN Advisors LLC owned about 0.26% of Canaan worth $1,124,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in Canaan in the fourth quarter valued at $44,000. China Universal Asset Management Co. Ltd. bought a new stake in Canaan in the 4th quarter valued at about $49,000. IvyRock Asset Management HK Ltd acquired a new position in Canaan during the 1st quarter valued at about $73,000. Chesapeake Capital Corp IL bought a new position in Canaan in the 4th quarter worth about $81,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Canaan in the first quarter valued at approximately $149,000. Institutional investors own 70.14% of the company’s stock.
Canaan Stock Performance
Shares of CAN traded down $0.05 during trading hours on Friday, reaching $0.93. 5,736,737 shares of the company’s stock traded hands, compared to its average volume of 6,509,715. The firm has a market capitalization of $259.90 million, a price-to-earnings ratio of -0.45 and a beta of 3.09. The business’s fifty day simple moving average is $1.06 and its two-hundred day simple moving average is $1.27. Canaan Inc. has a twelve month low of $0.75 and a twelve month high of $3.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.90 and a quick ratio of 2.01.
Analyst Ratings Changes
Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Canaan in a research report on Monday, May 20th.
Get Our Latest Analysis on CAN
Canaan 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.
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