Invesco Capital Management LLC recently announced the acquisition of new stake in Canaan Inc. (NASDAQ:CAN). The institutional investor has increased its shareholding in the Technology company by 109.47% to 0.8 million shares with purchase of 0.42 million shares. This fresh investment now brings its stake to 0.60% valued currently at $2.0 million. In addition, CSat Investment Advisory LP raised its holdings by 0.2 million to 0.41 million shares. And Toroso Investments LLC has lifted its position by 93.84% or 0.2 million shares – to 0.41 million shares.
With over 2.12 million Canaan Inc. (CAN) shares trading Friday and a closing price of $1.97 on the day, the dollar volume was approximately $4.18 million. The shares have shown a negative weekly performance of 0.00% and its price on 08/28/20 gained nearly 4.79%. Currently, there are 158.15M common shares owned by the public and among those 132.90M shares have been available to trade.
The top 3 mutual fund holders in Canaan Inc. are Invesco Mkts. II Plc – Elwood Glo, Amplify Transformational Data Sha, and Reality Shares NASDAQ NexGen Econ. Invesco Mkts. II Plc – Elwood Glo owns 0.91 million shares of the company’s stock, all valued at over $2.29 million. The company bought an additional 16934.0 shares recently to bring their total holdings to about 0.69% of the shares outstanding. Reality Shares NASDAQ NexGen Econ now owns shares totaling to 0.09% of the shares outstanding.
Shares of Canaan Inc. (NASDAQ: CAN) opened at $1.87, down -$0.01 from a prior closing price of $1.88. However, the script later closed the day at $1.97, up 4.79%. The company’s stock has a 5-day price change of 0.00% and -7.08% over the past three months. It has a 12-month low price of $1.76 and touched a high of $13.00 over the same period. Currently, 2.12 million shares have been traded, compared to an average intraday trading volume of 3.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.52%, -7.13%, and -52.16% respectively.
Institutional ownership of Canaan Inc. (NASDAQ: CAN) shares accounts for 1.50% of the company’s 158.15M shares outstanding. Mutual fund holders own 0.37%, while other institutional holders and individual stakeholders account for 1.13% and — respectively.
It has a market capitalization of $294.50M. The earnings-per-share (ttm) stands at -$0.92. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.42% over the week and 8.51% over the month.