Canaan (NASDAQ:CAN) Receives Buy Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Canaan (NASDAQ:CAN) in a research report report published on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $8.00 price target on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of Canaan in a report on Wednesday, January 22nd.

Canaan Price Performance

Canaan stock opened at $1.22 on Tuesday. The stock’s fifty day moving average price is $1.88 and its two-hundred day moving average price is $1.59. Canaan has a one year low of $0.72 and a one year high of $3.27. 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 firm has a market cap of $343.53 million, a PE ratio of -0.90 and a beta of 3.26.

Institutional Investors Weigh In On Canaan

Large investors have recently modified their holdings of the business. EntryPoint Capital LLC acquired a new stake in shares of Canaan in the 4th quarter valued at $32,000. Raymond James Financial Inc. acquired a new stake in shares of Canaan during the 4th quarter valued at $33,000. Wellington Management Group LLP acquired a new stake in shares of Canaan during the 4th quarter valued at $48,000. Chesapeake Capital Corp IL acquired a new stake in shares of Canaan during the 4th quarter valued at $79,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Canaan during the 4th quarter valued at $83,000. Institutional investors and hedge funds own 70.14% of the company’s 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.