Canaan Inc. (NASDAQ:CAN) Short Interest Update

Canaan Inc. (NASDAQ:CAN) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 8,370,000 shares, an increase of 48.1% from the March 15th total of 5,650,000 shares. Based on an average daily trading volume, of 18,910,000 shares, the short-interest ratio is currently 0.4 days.

Several hedge funds and other institutional investors have recently made changes to their positions in CAN. Squarepoint Ops LLC purchased a new stake in Canaan during the 3rd quarter worth approximately $84,000. Paloma Partners Management Co lifted its holdings in Canaan by 26.9% in the third quarter. Paloma Partners Management Co now owns 49,114 shares of the company’s stock worth $92,000 after purchasing an additional 10,410 shares during the period. Alliancebernstein L.P. acquired a new stake in Canaan during the 4th quarter worth about $5,159,000. CIBC World Markets Inc. bought a new stake in shares of Canaan in the 4th quarter valued at approximately $5,782,000. Finally, Credit Suisse AG acquired a new position in Canaan during the fourth quarter worth $113,000. Institutional investors and hedge funds own 4.10% of the company’s stock.

Canaan stock opened at $13.61 on Monday. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 21.60 and a beta of 4.05. The stock’s 50 day simple moving average is $21.94 and its two-hundred day simple moving average is $9.94. Canaan has a fifty-two week low of $1.76 and a fifty-two week high of $39.10.

About Canaan

Canaan Inc engages in the research, design, and sale of integrated circuit (IC) final system 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 of system products; and supply chain and distribution of system products.

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