OVERSEA CHINESE BANKING Corp Ltd Buys New Position in Canaan Inc. Sponsored ADR $CAN

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Canaan Inc. Sponsored ADR (NASDAQ:CAN) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 573,441 shares of the company’s stock, valued at approximately $355,000.

Several other hedge funds also recently modified their holdings of the business. Invesco Ltd. increased its position in Canaan by 5,016.8% during the first quarter. Invesco Ltd. now owns 7,235,144 shares of the company’s stock worth $6,351,000 after acquiring an additional 7,093,743 shares during the period. Baader Bank Aktiengesellschaft increased its holdings in shares of Canaan by 82.6% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 2,384,261 shares of the company’s stock worth $2,089,000 after purchasing an additional 1,078,537 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Canaan by 15.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,941,515 shares of the company’s stock worth $3,460,000 after purchasing an additional 525,772 shares during the period. Virtu Financial LLC acquired a new position in shares of Canaan during the first quarter valued at about $320,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Canaan by 53.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 763,259 shares of the company’s stock valued at $670,000 after buying an additional 267,322 shares during the period. 70.14% of the stock is owned by institutional investors.

Canaan Price Performance

Shares of CAN stock opened at $1.45 on Wednesday. The stock’s fifty day moving average is $1.08 and its 200-day moving average is $0.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.32 and a current ratio of 1.78. Canaan Inc. Sponsored ADR has a 52 week low of $0.53 and a 52 week high of $3.27. The stock has a market capitalization of $540.70 million, a PE ratio of -1.61 and a beta of 3.49.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Canaan in a research note on Wednesday, October 8th. Wall Street Zen lowered Canaan from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Compass Point started coverage on Canaan in a research report on Monday, September 15th. They issued a “buy” rating for the company. BTIG Research reissued a “buy” rating and issued a $8.00 price target on shares of Canaan in a report on Tuesday, October 14th. Finally, B. Riley reaffirmed a “buy” rating on shares of Canaan in a report on Wednesday, October 22nd. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3.61.

Canaan 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.