Canaan Inc. (NASDAQ:CAN) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of Canaan Inc. (NASDAQ:CAN) by 55.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,762,972 shares of the company’s stock after purchasing an additional 3,482,283 shares during the quarter. Van ECK Associates Corp owned 3.48% of Canaan worth $9,761,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Nomura Holdings Inc. raised its position in Canaan by 1,463.2% during the fourth quarter. Nomura Holdings Inc. now owns 1,271,925 shares of the company’s stock valued at $2,938,000 after acquiring an additional 1,190,557 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Canaan in the 4th quarter valued at $159,000. Quadrature Capital Ltd lifted its stake in shares of Canaan by 323.3% in the 1st quarter. Quadrature Capital Ltd now owns 280,686 shares of the company’s stock valued at $422,000 after purchasing an additional 214,384 shares during the period. SG Americas Securities LLC boosted its holdings in Canaan by 33.6% during the first quarter. SG Americas Securities LLC now owns 5,385,073 shares of the company’s stock worth $8,185,000 after buying an additional 1,354,333 shares in the last quarter. Finally, Hel Ved Capital Management Ltd acquired a new stake in Canaan during the fourth quarter valued at $1,655,000. Hedge funds and other institutional investors own 70.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Canaan in a research report on Friday, August 16th. Nomura Securities raised Canaan to a “hold” rating in a report on Monday, August 19th.

Canaan Stock Performance

CAN opened at $0.92 on Tuesday. The firm’s fifty day simple moving average is $1.00 and its two-hundred day simple moving average is $1.16. Canaan Inc. has a 52-week low of $0.72 and a 52-week high of $3.50. The company has a market cap of $258.42 million, a price-to-earnings ratio of -0.45 and a beta of 3.09. The company has a quick ratio of 1.75, a current ratio of 2.88 and a debt-to-equity ratio of 0.06.

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.