Canaan Inc. (NASDAQ:CAN – Get Rating)’s stock price was up 8.9% during mid-day trading on Tuesday . The company traded as high as $3.44 and last traded at $3.44. Approximately 44,753 shares were traded during trading, a decline of 98% from the average daily volume of 2,744,086 shares. The stock had previously closed at $3.16.
A number of analysts recently issued reports on CAN shares. DA Davidson decreased their price objective on Canaan from $15.00 to $10.00 in a research note on Monday, May 16th. Benchmark assumed coverage on Canaan in a research note on Tuesday, June 7th. They set a “buy” rating and a $9.00 price objective on the stock.
The business has a fifty day moving average price of $3.59 and a 200-day moving average price of $4.61. The stock has a market capitalization of $639.33 million, a PE ratio of 1.65 and a beta of 3.95.
Canaan Company Profile (NASDAQ:CAN)
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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