Baader Bank Aktiengesellschaft Grows Position in Canaan Inc. (NASDAQ:CAN)

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

Several other large investors have also recently modified their holdings of CAN. Vanguard Personalized Indexing Management LLC bought a new position in shares of Canaan in the second quarter valued at approximately $34,000. Old Port Advisors purchased a new position in shares of Canaan during the 4th quarter valued at $100,000. XTX Topco Ltd purchased a new stake in shares of Canaan in the second quarter worth $79,000. Virtu Financial LLC boosted its stake in Canaan by 35.2% during the third quarter. Virtu Financial LLC now owns 103,394 shares of the company’s stock valued at $104,000 after buying an additional 26,920 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Canaan by 38.6% during the third quarter. Farther Finance Advisors LLC now owns 109,409 shares of the company’s stock worth $111,000 after buying an additional 30,447 shares in the last quarter. Hedge funds and other institutional investors own 70.14% of the company’s stock.

Canaan Stock Performance

Shares of NASDAQ CAN opened at $1.86 on Thursday. The stock has a market cap of $523.74 million, a price-to-earnings ratio of -1.38 and a beta of 3.27. The stock’s 50-day moving average is $2.21 and its 200 day moving average is $1.47. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.08. Canaan Inc. has a 1-year low of $0.72 and a 1-year high of $3.27.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CAN shares. Rosenblatt Securities lifted their price target on Canaan from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Friday, December 6th. HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of Canaan in a research note on Wednesday, January 22nd.

Canaan 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.