6 days Ago By ABMN Staff
Norges Bank bought a new stake in Canaan Inc. ( NASDAQ:CAN – Free Report ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,130,517 shares of the company’s stock, valued at approximately $2,318,000.
Norges Bank owned approximately 0.40% of Canaan as of its most recent filing with the Securities and Exchange Commission. Other large investors have also recently bought and sold shares of the company.
JPMorgan Chase & Co. acquired a new stake in shares of Canaan in the fourth quarter valued at about $402,000. Mitsubishi UFJ Asset Management Co.
Ltd. raised its stake in shares of Canaan by 95.7% during the 4th quarter.
Mitsubishi UFJ Asset Management Co. Ltd. now owns 495,937 shares of the company’s stock worth $1,017,000 after purchasing an additional 242,518 shares in the last quarter.
EntryPoint Capital LLC acquired a new stake in shares of Canaan in the 4th quarter valued at approximately $32,000. Vanguard Group Inc. grew its stake in shares of Canaan by 2.
6% in the fourth quarter. Vanguard Group Inc. now owns 8,760,909 shares of the company’s stock valued at $17,960,000 after buying an additional 223,241 shares in the last quarter.
Finally, Sei Investments Co. bought a new stake in Canaan during the fourth quarter worth $751,000. Institutional investors and hedge funds own 70.
14% of the company’s stock. Canaan Trading Up 3.8 % Shares of CAN stock opened at $0.
67 on Friday. Canaan Inc. has a 12-month low of $0.
65 and a 12-month high of $3.27. The firm has a 50 day moving average price of $1.
22 and a two-hundred day moving average price of $1.57. The company has a quick ratio of 1.
45, a current ratio of 2.03 and a debt-to-equity ratio of 0.08.
The company has a market capitalization of $189.93 million, a PE ratio of -0.50 and a beta of 3.
48. Analyst Upgrades and Downgrades A number of research analysts have recently 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 Thursday, March 27th. Rosenblatt Securities restated a “buy” rating and issued a $8.00 price objective on shares of Canaan in a research note on Friday.
Finally, Compass Point initiated coverage on Canaan in a report on Tuesday, March 18th. They set a “buy” rating and a $2.50 target price on the stock.
One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3.88.
View Our Latest Stock Analysis on Canaan 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. Further Reading Want to see what other hedge funds are holding CAN? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Canaan Inc. ( NASDAQ:CAN – Free Report ). Receive News & Ratings for Canaan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canaan and related companies with MarketBeat.
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