OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 573,441 Canaan Inc. Sponsored ADR $CAN

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired 573,441 shares of Canaan Inc. Sponsored ADR, valued at approximately $355,000, giving them a 0.15% stake in the company.
• Canaan's stock has seen a significant drop of 16.7%, and the company reported a negative EPS for the recent quarter but exceeded revenue expectations.
• Institutional investors hold 70.14% of Canaan's stock, indicating strong interest from large financial entities despite mixed ratings from analysts.

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Canaan Inc. Sponsored ADR (NASDAQ:CAN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 573,441 shares of the company's stock, valued at approximately $355,000. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.15% of Canaan as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. GMT Capital Corp acquired a new stake in Canaan in the 1st quarter valued at about $86,000. SBI Securities Co. Ltd. lifted its stake in Canaan by 280.2% during the first quarter. SBI Securities Co. Ltd. now owns 153,399 shares of the company's stock valued at $135,000 after purchasing an additional 113,049 shares during the last quarter. Virtu Financial LLC bought a new stake in Canaan during the first quarter worth approximately $320,000. Goldman Sachs Group Inc. grew its position in Canaan by 52.0% in the first quarter. Goldman Sachs Group Inc. now owns 587,451 shares of the company's stock worth $516,000 after buying an additional 200,869 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Canaan by 53.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 763,259 shares of the company's stock worth $670,000 after buying an additional 267,322 shares during the last quarter. Institutional investors own 70.14% of the company's stock.

Canaan Stock Down 16.7%

CAN opened at $1.45 on Wednesday. The company has a market capitalization of $540.70 million, a PE ratio of -1.61 and a beta of 3.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.78 and a quick ratio of 1.32. Canaan Inc. Sponsored ADR has a fifty-two week low of $0.53 and a fifty-two week high of $3.27. The business has a 50-day moving average of $1.08 and a 200-day moving average of $0.84.

Canaan (NASDAQ:CAN - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.10. Canaan had a negative net margin of 77.01% and a negative return on equity of 92.49%. The company had revenue of $13.95 million during the quarter, compared to the consensus estimate of $13.29 million. Canaan has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Canaan Inc. Sponsored ADR will post -0.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CAN. Rosenblatt Securities reiterated a "buy" rating and set a $4.00 price objective on shares of Canaan in a research report on Monday, October 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Canaan in a research note on Wednesday, October 8th. Compass Point assumed coverage on Canaan in a report on Monday, September 15th. They set a "buy" rating on the stock. Northland Securities set a $1.75 target price on shares of Canaan in a report on Friday, October 3rd. Finally, Zacks Research raised shares of Canaan from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Canaan presently has a consensus rating of "Moderate Buy" and an average price target of $3.61.

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.

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