Mirae Asset Global Investments Co. Ltd. grew its position in Canaan Inc. (NASDAQ:CAN - Free Report) by 72.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 about 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 made changes to their positions in the company. Bank of America Corp DE grew its stake in Canaan by 185.8% in the 1st quarter. Bank of America Corp DE now owns 6,334 shares of the company's stock valued at $35,000 after purchasing an additional 4,118 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Canaan in the first quarter worth about $55,000. JPMorgan Chase & Co. purchased a new position in Canaan in the second quarter valued at about $39,000. Engineers Gate Manager LP bought a new position in shares of Canaan during the 4th quarter valued at approximately $31,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Canaan during the 1st quarter worth approximately $88,000. 70.14% of the stock is owned by institutional investors.
Canaan Stock Performance
Shares of NASDAQ:CAN traded down $0.03 during midday trading on Tuesday, reaching $1.10. 9,138,381 shares of the company traded hands, compared to its average volume of 17,769,627. The firm's fifty day moving average price is $1.56 and its two-hundred day moving average price is $1.76. Canaan Inc. has a 12 month low of $1.07 and a 12 month high of $3.50.
Canaan (NASDAQ:CAN - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). The firm had revenue of $49.07 million for the quarter, compared to analysts' expectations of $33.90 million. Canaan had a negative net margin of 195.84% and a negative return on equity of 80.13%. Research analysts predict that Canaan Inc. will post -1.35 EPS for the current year.
About Canaan
(
Free Report)
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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