MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $3.46 Million Stock Holdings in Canaan Inc. Sponsored ADR $CAN

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Canaan Inc. Sponsored ADR (NASDAQ:CAN) by 15.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,941,515 shares of the company’s stock after acquiring an additional 525,772 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.40% of Canaan worth $3,460,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in Canaan in the 4th quarter valued at $48,000. GMT Capital Corp acquired a new position in Canaan in the 1st quarter valued at $86,000. BNP Paribas Financial Markets acquired a new position in Canaan in the 4th quarter valued at $92,000. SBI Securities Co. Ltd. raised its holdings in Canaan by 280.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 153,399 shares of the company’s stock valued at $135,000 after acquiring an additional 113,049 shares in the last quarter. Finally, GTS Securities LLC raised its holdings in Canaan by 137.7% in the 4th quarter. GTS Securities LLC now owns 67,648 shares of the company’s stock valued at $139,000 after acquiring an additional 39,183 shares in the last quarter. 70.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAN. Rosenblatt Securities restated a “buy” rating and set a $4.00 price objective on shares of Canaan in a research report on Friday. Northland Capmk upgraded Canaan to a “hold” rating in a research report on Wednesday, June 18th. Wall Street Zen upgraded Canaan from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Zacks Research upgraded Canaan from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, Benchmark decreased their target price on Canaan from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, May 21st. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.50.

Canaan Trading Up 0.6%

Shares of CAN stock opened at $0.82 on Friday. The firm has a market capitalization of $307.42 million, a P/E ratio of -0.92 and a beta of 3.45. Canaan Inc. Sponsored ADR has a twelve month low of $0.53 and a twelve month high of $3.27. The company has a quick ratio of 1.32, a current ratio of 1.78 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $0.75 and its 200 day simple moving average is $0.78.

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

Canaan announced that its board has approved a share repurchase plan on Tuesday, May 27th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.