Canaan Inc. (NASDAQ:CAN) Shares Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd boosted its holdings in shares of Canaan Inc. (NASDAQ:CAN) by 329.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 544,976 shares of the company’s stock after acquiring an additional 418,052 shares during the quarter. Quadrature Capital Ltd owned about 0.18% of Canaan worth $550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAN. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Canaan in the third quarter valued at $556,000. Van ECK Associates Corp lifted its stake in Canaan by 55.4% during the 2nd quarter. Van ECK Associates Corp now owns 9,762,972 shares of the company’s stock worth $9,761,000 after acquiring an additional 3,482,283 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Canaan by 20.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 215,372 shares of the company’s stock valued at $215,000 after acquiring an additional 36,422 shares during the period. Farther Finance Advisors LLC grew its position in Canaan by 38.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 109,409 shares of the company’s stock valued at $111,000 after acquiring an additional 30,447 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Canaan during the second quarter worth about $79,000. Hedge funds and other institutional investors own 70.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CAN shares. B. Riley assumed coverage on shares of Canaan in a research note on Wednesday, September 18th. They set a “buy” rating and a $2.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Canaan in a research note on Thursday, November 21st. Nomura Securities upgraded Canaan to a “hold” rating in a research note on Monday, August 19th. Finally, Rosenblatt Securities boosted their target price on Canaan from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Friday.

Canaan Trading Up 35.1 %

Shares of NASDAQ:CAN opened at $3.04 on Monday. The company has a market cap of $856.00 million, a PE ratio of -2.25 and a beta of 3.24. The company’s 50 day moving average is $1.42 and its two-hundred day moving average is $1.15. Canaan Inc. has a 52 week low of $0.72 and a 52 week high of $3.50. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.08.

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.