Canaan Inc. (NASDAQ:CAN) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Canaan Inc. (NASDAQ:CAN) by 72.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,782,634 shares of the company’s stock after purchasing an additional 747,152 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 1.01% of Canaan worth $4,118,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CAN. Vanguard Group Inc. grew its holdings in Canaan by 4.1% during the third quarter. Vanguard Group Inc. now owns 6,386,618 shares of the company’s stock worth $20,948,000 after acquiring an additional 252,678 shares during the period. SG Americas Securities LLC acquired a new position in Canaan during the fourth quarter worth about $9,311,000. Invesco Ltd. grew its holdings in Canaan by 27.7% during the third quarter. Invesco Ltd. now owns 3,702,627 shares of the company’s stock worth $6,739,000 after acquiring an additional 803,940 shares during the period. BlackRock Inc. grew its holdings in Canaan by 12.6% during the second quarter. BlackRock Inc. now owns 3,463,223 shares of the company’s stock worth $7,377,000 after acquiring an additional 387,481 shares during the period. Finally, State Street Corp grew its holdings in Canaan by 165.5% during the second quarter. State Street Corp now owns 3,388,653 shares of the company’s stock worth $7,218,000 after acquiring an additional 2,112,322 shares during the period. 70.14% of the stock is owned by institutional investors and hedge funds.

Canaan Stock Down 5.8 %

NASDAQ:CAN opened at $1.13 on Tuesday. Canaan Inc. has a 52-week low of $1.11 and a 52-week high of $3.50. The firm has a market cap of $263.86 million, a P/E ratio of -0.47 and a beta of 3.01. The business’s 50-day moving average price is $1.56 and its 200 day moving average price is $1.76.

Canaan (NASDAQ:CAN) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.35) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.35). Canaan had a negative return on equity of 80.13% and a negative net margin of 195.84%. The business had revenue of $49.07 million during the quarter, compared to analyst estimates of $33.90 million. Sell-side analysts expect that Canaan Inc. will post -1.35 EPS for the current year.

About Canaan

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.