Canaan Inc. (NASDAQ:CAN – Get Rating) traded up 7.1% during mid-day trading on Tuesday . The company traded as high as $2.73 and last traded at $2.70. 116,733 shares were traded during mid-day trading, a decline of 95% from the average session volume of 2,128,032 shares. The stock had previously closed at $2.52.
Wall Street Analysts Forecast Growth
Separately, HC Wainwright reduced their price target on shares of Canaan from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, November 15th.
Canaan Stock Performance
The company has a market capitalization of $504.74 million, a P/E ratio of 1.31 and a beta of 3.22. The business’s fifty day simple moving average is $3.09 and its 200-day simple moving average is $3.41.
Institutional Trading of Canaan
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 primarily 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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