SG Americas Securities LLC recently announced the acquisition of new stake in Canaan Inc ADR (NASDAQ:CAN). This fresh investment now brings its stake to 2.68% valued currently at $9.31 million. In addition, BlackRock Fund Advisors raised its holdings by 0.12 million to 3.11 million shares. And Invesco Capital Management LLC has lifted its position by 27.34% or 0.65 million shares – to 3.02 million shares.
Currently, there are 150.27M common shares owned by the public and among those 149.26M shares have been available to trade.
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The top 3 mutual fund holders in Canaan Inc ADR are Amplify Transformational Data Sha, VanEck UCITS ETFs Plc – Crypto &, and Vanguard Total International Stoc. Amplify Transformational Data Sha owns 4.68 million shares of the company’s stock, all valued at over $10.82 million. VanEck UCITS ETFs Plc – Crypto & bought 32340.0 shares to see its total holdings expand to 2.47 million shares valued at over $5.71 million and representing 1.65% of the shares outstanding. Vanguard Total International Stoc now owns shares totaling to 1.50% of the shares outstanding.
The company’s stock has a 5-day price change of -10.00% and -18.18% over the past three months. CAN shares are trading -29.87% year to date (YTD), with the 12-month market performance down to -48.24% lower. It has a 12-month low price of $1.13 and touched a high of $3.98 over the same period. CAN has an average intraday trading volume of 14.19 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 -21.70%, -15.17%, and -25.79% respectively.
Institutional ownership of Canaan Inc ADR (NASDAQ: CAN) shares accounts for 25.73% of the company’s 150.27M shares outstanding. Mutual fund holders own 18.34%, while other institutional holders and individual stakeholders account for 8.09% and — respectively.
It has a market capitalization of $243.44M and a beta (3y monthly) value of 3.02. The earnings-per-share (ttm) stands at -$1.99. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.68% over the week and 14.50% over the month.
Analysts forecast that Canaan Inc ADR (CAN) will achieve an EPS of -$0.17 for the current quarter, -$0.12 for the next quarter and -$0.39 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.17 while analysts give the company a high EPS estimate of -$0.17. Comparatively, EPS for the current quarter was -$0.26 a year ago. Earnings per share for the fiscal year are expected to decrease by -124.18%, and 0.00% over the next financial year.
Looking at the support for the CAN, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on July 06, 2022, with the firm’s price target at $5.
