Fintel reports that on September 18, 2024, B. Riley Securities initiated coverage of Canaan Inc. - Depositary Receipt () (NasdaqGM:CAN) with a Buy recommendation.
Analyst Price Forecast Suggests 188.68% Upside
As of August 26, 2024, the average one-year price target for Canaan Inc. - Depositary Receipt () is $3.06/share. The forecasts range from a low of $3.03 to a high of $3.15. The average price target represents an increase of 188.68% from its latest reported closing price of $1.06 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Canaan Inc. - Depositary Receipt () is 1,030MM, an increase of 443.99%. The projected annual non-GAAP EPS is 1.17.
What is the Fund Sentiment?
There are 109 funds or institutions reporting positions in Canaan Inc. - Depositary Receipt (). This is an decrease of 13 owner(s) or 10.66% in the last quarter. Average portfolio weight of all funds dedicated to CAN is 0.18%, an increase of 4.13%. Total shares owned by institutions increased in the last three months by 7.51% to 70,080K shares. 
The put/call ratio of CAN is 0.08, indicating a bullish outlook.
What are Other Shareholders Doing?
Van Eck Associates holds 9,763K shares. In its prior filing, the firm reported owning 6,281K shares , representing an increase of 35.67%. The firm decreased its portfolio allocation in CAN by 3.88% over the last quarter.
KOMP - SPDR S&P Kensho New Economies Composite ETF holds 8,804K shares. In its prior filing, the firm reported owning 2,266K shares , representing an increase of 74.26%. The firm increased its portfolio allocation in CAN by 84.68% over the last quarter.
MIRAE ASSET GLOBAL ETFS HOLDINGS holds 5,535K shares.
SG Americas Securities holds 5,265K shares. In its prior filing, the firm reported owning 5,385K shares , representing a decrease of 2.28%. The firm decreased its portfolio allocation in CAN by 22.08% over the last quarter.
BKCH - Global X Blockchain ETF holds 4,976K shares. In its prior filing, the firm reported owning 1,816K shares , representing an increase of 63.51%. The firm increased its portfolio allocation in CAN by 97.88% over the last quarter.
Canaan Background Information
(This description is provided by the company.)
Canaan Creative, known simply as Canaan, is a China-based computer hardware manufacturer. Established in 2013 by N.G. Zhang, Canaan specializes in Blockchain servers and ASIC microprocessors for use in bitcoin mining.
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