Baader Bank Aktiengesellschaft Has $2.68 Million Stock Position in Canaan Inc. (NASDAQ:CAN)

Baader Bank Aktiengesellschaft boosted its stake in Canaan Inc. (NASDAQ:CAN) by 287.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,305,724 shares of the company’s stock after purchasing an additional 968,347 shares during the quarter. Baader Bank Aktiengesellschaft owned about 0.46% of Canaan worth $2,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in shares of Canaan during the 4th quarter worth $2,807,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Canaan in the third quarter worth about $556,000. Quadrature Capital Ltd boosted its stake in shares of Canaan by 329.4% in the 3rd quarter. Quadrature Capital Ltd now owns 544,976 shares of the company’s stock valued at $550,000 after purchasing an additional 418,052 shares in the last quarter. XTX Topco Ltd increased its position in Canaan by 193.3% during the 3rd quarter. XTX Topco Ltd now owns 232,525 shares of the company’s stock worth $235,000 after purchasing an additional 153,255 shares in the last quarter. Finally, Old Port Advisors acquired a new position in Canaan during the 4th quarter worth approximately $100,000. Institutional investors own 70.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAN. Rosenblatt Securities boosted their price target on Canaan from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, December 6th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Canaan in a research note on Wednesday, January 22nd.

Canaan Trading Down 1.6 %

NASDAQ CAN opened at $1.86 on Thursday. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.08. Canaan Inc. has a 52 week low of $0.72 and a 52 week high of $3.27. The business has a 50 day moving average price of $2.21 and a 200-day moving average price of $1.47. The company has a market cap of $523.74 million, a price-to-earnings ratio of -1.38 and a beta of 3.27.

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.