Canaan’s (CAN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Canaan (NASDAQ:CAN) in a research report released on Tuesday,Benzinga reports. They currently have a $3.00 price target on the stock.

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $8.00 price target on shares of Canaan in a research note on Tuesday.

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 has a market capitalization of $349.16 million, a price-to-earnings ratio of -0.92 and a beta of 3.39. The firm has a fifty day simple moving average of $1.84 and a two-hundred day simple moving average of $1.59.

Institutional Investors Weigh In On Canaan

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

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.