Banco Bilbao Vizcaya Argentaria S.A. Makes New Investment in Canaan Inc. (NASDAQ:CAN)

Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Canaan Inc. (NASDAQ:CAN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 465,000 shares of the company's stock, valued at approximately $1,043,000. Banco Bilbao Vizcaya Argentaria S.A. owned 0.17% of Canaan at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EntryPoint Capital LLC bought a new stake in shares of Canaan during the fourth quarter worth about $32,000. Raymond James Financial Inc. bought a new position in shares of Canaan in the fourth quarter valued at approximately $33,000. Wellington Management Group LLP purchased a new position in shares of Canaan during the fourth quarter valued at approximately $48,000. Chesapeake Capital Corp IL bought a new stake in Canaan during the fourth quarter worth $79,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Canaan in the 4th quarter valued at $83,000. Institutional investors own 70.14% of the company's stock.

Analyst Upgrades and Downgrades

CAN has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $8.00 price objective on shares of Canaan in a report on Friday, April 11th. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Canaan in a research report on Thursday, March 27th. Finally, Compass Point started coverage on shares of Canaan in a research report on Tuesday, March 18th. They set a "buy" rating and a $2.50 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Canaan currently has a consensus rating of "Moderate Buy" and an average price target of $3.88.

Canaan Stock Performance

NASDAQ CAN traded down $0.01 during trading hours on Thursday, reaching $0.69. 21,738,735 shares of the company were exchanged, compared to its average volume of 11,758,980. The stock has a market capitalization of $194.91 million, a P/E ratio of -0.51 and a beta of 3.48. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.08. Canaan Inc. has a 1 year low of $0.65 and a 1 year high of $3.27. The business's 50 day simple moving average is $0.94 and its 200-day simple moving average is $1.55.

Canaan (NASDAQ:CAN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported ($2.17) EPS for the quarter, missing the consensus estimate of ($0.88) by ($1.29). The firm had revenue of $88.77 million during the quarter, compared to analysts' expectations of $88.50 million. Canaan had a negative net margin of 128.85% and a negative return on equity of 60.37%. During the same quarter in the previous year, the company posted ($2.16) EPS. On average, equities research analysts expect that Canaan Inc. will post -0.74 earnings per share for the current year.

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 in the People's Republic of China. It is also involved in the assembly and distribution of mining equipment and spare parts.