Canaan Inc. (NASDAQ:CAN) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd boosted its stake in shares of Canaan Inc. (NASDAQ:CAN) by 193.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 232,525 shares of the company’s stock after buying an additional 153,255 shares during the period. XTX Topco Ltd owned 0.08% of Canaan worth $235,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CAN. Commonwealth Equity Services LLC grew its stake in shares of Canaan by 20.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 215,372 shares of the company’s stock valued at $215,000 after buying an additional 36,422 shares during the period. Van ECK Associates Corp grew its position in Canaan by 55.4% in the second quarter. Van ECK Associates Corp now owns 9,762,972 shares of the company’s stock worth $9,761,000 after acquiring an additional 3,482,283 shares during the period. Impact Partnership Wealth LLC increased its stake in Canaan by 271.1% during the second quarter. Impact Partnership Wealth LLC now owns 125,990 shares of the company’s stock worth $126,000 after acquiring an additional 92,038 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Canaan during the second quarter worth $34,000. Finally, Farther Finance Advisors LLC raised its position in Canaan by 38.6% in the third quarter. Farther Finance Advisors LLC now owns 109,409 shares of the company’s stock valued at $111,000 after purchasing an additional 30,447 shares during the period. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

Canaan Stock Performance

Shares of Canaan stock opened at $2.59 on Thursday. The stock has a market capitalization of $729.30 million, a price-to-earnings ratio of -1.92 and a beta of 3.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.03 and a quick ratio of 1.45. The business has a 50-day moving average of $1.70 and a 200 day moving average of $1.25. Canaan Inc. has a 12 month low of $0.72 and a 12 month high of $3.50.

Analysts Set New Price Targets

CAN has been the subject of a number of recent analyst reports. Rosenblatt Securities raised their price objective on Canaan from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Canaan in a research report on Thursday, November 21st. Finally, B. Riley started coverage on shares of Canaan in a report on Wednesday, September 18th. They issued a “buy” rating and a $2.00 price objective on the stock.

About Canaan

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.