Tower Research Capital LLC TRC purchased a new position in shares of Canaan Inc. (NASDAQ:CAN – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,916 shares of the company’s stock, valued at approximately $44,000.
Several other institutional investors also recently added to or reduced their stakes in the company. Chesapeake Capital Corp IL acquired a new position in shares of Canaan in the fourth quarter valued at approximately $81,000. Baader Bank Aktiengesellschaft increased its holdings in shares of Canaan by 662.5% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 736,247 shares of the company’s stock valued at $1,701,000 after purchasing an additional 639,690 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Canaan in the fourth quarter valued at approximately $159,000. Van ECK Associates Corp increased its holdings in shares of Canaan by 91.6% in the fourth quarter. Van ECK Associates Corp now owns 4,550,161 shares of the company’s stock valued at $10,511,000 after purchasing an additional 2,175,807 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Canaan in the fourth quarter valued at approximately $446,000. Institutional investors and hedge funds own 70.14% of the company’s stock.
Canaan Price Performance
Shares of NASDAQ:CAN traded up $0.05 during trading on Thursday, reaching $0.92. The company had a trading volume of 6,044,839 shares, compared to its average volume of 17,195,467. Canaan Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $3.50. The firm has a market capitalization of $214.80 million, a price-to-earnings ratio of -0.37 and a beta of 3.11. The stock’s fifty day moving average price is $1.34 and its 200 day moving average price is $1.68.
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.
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