45,001 Shares in Canaan Inc. (NASDAQ:CAN) Acquired by Peak6 LLC

Peak6 LLC bought a new stake in Canaan Inc. (NASDAQ:CAN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 45,001 shares of the company’s stock, valued at approximately $92,000.

Several other hedge funds also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Canaan during the 4th quarter worth approximately $32,000. Raymond James Financial Inc. acquired a new stake in shares of Canaan during the fourth quarter worth $33,000. Wellington Management Group LLP bought a new stake in Canaan in the 4th quarter valued at $48,000. State Street Corp boosted its stake in Canaan by 0.3% in the 3rd quarter. State Street Corp now owns 9,111,069 shares of the company’s stock worth $9,202,000 after purchasing an additional 23,759 shares during the period. Finally, Virtu Financial LLC increased its holdings in Canaan by 35.2% during the 3rd quarter. Virtu Financial LLC now owns 103,394 shares of the company’s stock worth $104,000 after purchasing an additional 26,920 shares in the last quarter. 70.14% of the stock is currently owned by institutional investors and hedge funds.

Canaan Trading Down 1.9 %

NASDAQ CAN opened at $0.68 on Tuesday. Canaan Inc. has a 12 month low of $0.65 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 50 day moving average of $1.08 and a 200-day moving average of $1.57. The company has a market cap of $192.57 million, a PE ratio of -0.51 and a beta of 3.48.

Canaan (NASDAQ:CAN) last announced its quarterly earnings results on Wednesday, March 26th. The company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($1.29). The firm had revenue of $88.77 million during the quarter, compared to analyst estimates of $88.50 million. Canaan had a negative net margin of 128.85% and a negative return on equity of 60.37%. During the same quarter in the prior year, the business earned ($2.16) EPS. On average, equities research analysts anticipate that Canaan Inc. will post -0.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CAN has been the subject of a number of research reports. Compass Point assumed coverage on Canaan in a report on Tuesday, March 18th. They set a “buy” rating and a $2.50 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $8.00 price objective on shares of Canaan in a research report on Friday, April 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of Canaan in a research report on Thursday, March 27th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Canaan has a consensus rating of “Moderate Buy” and a consensus price target of $3.88.

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.