Baader Bank Aktiengesellschaft Buys 289,629 Shares of Canaan Inc. (NASDAQ:CAN)

Baader Bank Aktiengesellschaft increased its holdings in Canaan Inc. (NASDAQ:CAN) by 54.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 825,876 shares of the company’s stock after buying an additional 289,629 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Canaan were worth $824,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CAN. Mirae Asset Global Investments Co. Ltd. increased its position in Canaan by 72.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,782,634 shares of the company’s stock worth $4,118,000 after purchasing an additional 747,152 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Canaan in the fourth quarter worth $446,000. Van ECK Associates Corp increased its position in Canaan by 91.6% in the fourth quarter. Van ECK Associates Corp now owns 4,550,161 shares of the company’s stock worth $10,511,000 after purchasing an additional 2,175,807 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Canaan in the fourth quarter worth $159,000. Finally, Chesapeake Capital Corp IL bought a new stake in Canaan in the fourth quarter worth $81,000. Institutional investors own 70.14% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Canaan in a research report on Monday, May 20th.

Canaan Stock Performance

CAN stock remained flat at $0.83 during mid-day trading on Thursday. 7,819,840 shares of the company’s stock were exchanged, compared to its average volume of 12,538,562. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.90 and a quick ratio of 2.01. Canaan Inc. has a fifty-two week low of $0.72 and a fifty-two week high of $3.50. The firm has a market cap of $232.30 million, a PE ratio of -0.41 and a beta of 3.09. The company has a 50 day simple moving average of $1.03 and a 200-day simple moving average of $1.22.

Canaan (NASDAQ:CAN) last posted its quarterly earnings data on Friday, May 17th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.44. Canaan had a negative net margin of 192.95% and a negative return on equity of 75.57%. The business had revenue of $35.09 million for the quarter, compared to analysts’ expectations of $30.10 million. On average, equities analysts expect that Canaan Inc. will post -0.9 earnings per share for the current fiscal year.

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.