Canaan Inc. (NASDAQ:CAN – Get Free Report) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 26,870,000 shares, a growth of 15.8% from the March 15th total of 23,200,000 shares. Based on an average daily trading volume, of 18,120,000 shares, the short-interest ratio is presently 1.5 days.
Institutional Trading of Canaan
Several institutional investors and hedge funds have recently bought and sold shares of CAN. Bank of America Corp DE grew its position in shares of Canaan by 185.8% in the first 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 last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Canaan by 22.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,810 shares of the company’s stock valued at $146,000 after purchasing an additional 4,960 shares during the last quarter. Impact Partnership Wealth LLC grew its position in shares of Canaan by 17.8% in the third quarter. Impact Partnership Wealth LLC now owns 35,554 shares of the company’s stock valued at $65,000 after purchasing an additional 5,373 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Canaan by 29.0% during the first quarter. Goldman Sachs Group Inc. now owns 25,224 shares of the company’s stock worth $137,000 after buying an additional 5,670 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Canaan by 49.8% during the first quarter. Royal Bank of Canada now owns 17,546 shares of the company’s stock worth $95,000 after buying an additional 5,836 shares in the last quarter. Institutional investors own 70.14% of the company’s stock.
Canaan Trading Down 2.7 %
NASDAQ:CAN traded down $0.03 on Tuesday, hitting $1.10. The company’s stock had a trading volume of 9,138,381 shares, compared to its average volume of 17,769,627. The stock has a fifty day moving average of $1.56 and a two-hundred day moving average of $1.75. The firm has a market capitalization of $256.85 million, a P/E ratio of -0.46 and a beta of 3.01. Canaan has a one year low of $1.07 and a one year high of $3.50.
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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