Canaan’s (CAN) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Canaan (NASDAQ:CAN) in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a $8.00 price target on the stock.

Separately, HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of Canaan in a research report on Tuesday, March 4th.

Canaan Stock Down 3.7 %

Shares of CAN opened at $1.05 on Tuesday. The stock has a market capitalization of $295.66 million, a PE ratio of -0.78 and a beta of 3.39. Canaan has a 1 year low of $0.72 and a 1 year high of $3.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.45 and a current ratio of 2.03. The company’s 50-day simple moving average is $1.78 and its 200-day simple moving average is $1.60.

Institutional Trading of Canaan

Several hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC purchased a new stake in shares of Canaan during the fourth quarter worth approximately $32,000. Raymond James Financial Inc. purchased a new stake in shares of Canaan during the fourth quarter worth approximately $33,000. Wellington Management Group LLP purchased a new stake in shares of Canaan during the fourth quarter worth approximately $48,000. Chesapeake Capital Corp IL purchased a new stake in shares of Canaan during the fourth quarter worth approximately $79,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Canaan during the fourth quarter worth approximately $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.