Canaan Inc. (NASDAQ:CAN – Get Rating)’s stock price fell 3.6% during mid-day trading on Tuesday . The stock traded as low as $3.98 and last traded at $4.01. 12,551 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 5,046,076 shares. The stock had previously closed at $4.16.
Separately, DA Davidson began coverage on Canaan in a research note on Tuesday, April 5th. They issued a “buy” rating and a $15.00 price target for the company.
The firm has a market capitalization of $661.06 million, a P/E ratio of 2.46 and a beta of 3.97. The firm has a 50 day simple moving average of $5.20.
Canaan Company Profile (NASDAQ:CAN)
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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