Blurbs

H.C. Wainwright Remains a Buy on Canaan (CAN)

In a report released today, Kevin Dede from H.C. Wainwright maintained a Buy rating on Canaan (CANResearch Report), with a price target of $5.00. The company’s shares opened today at $3.60.

According to TipRanks, Dede is an analyst with an average return of -7.7% and a 29.61% success rate. Dede covers the Technology sector, focusing on stocks such as Canaan, HIVE Blockchain Technologies, and Biotricity.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Canaan with a $7.33 average price target.

See Insiders’ Hot Stocks on TipRanks >>

Based on Canaan’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.65 billion and a net profit of $608.91 million. In comparison, last year the company earned a revenue of $1.08 billion and had a net profit of $167.29 million

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Canaan, Inc. designs and sells integrated circuits. It offers Kendryte AI and Avalon Miner products. The firm is a developer of supercomputing chips and the manufacturer of digital block chain computing equipment as well as the supplier of overall scheme for computer software and hardware of digital block chain. The company was founded by Li Jiaxuan, Liu Xiangfu and Zhang Nangeng in 2013 and is headquartered in Hangzhou, China.

Read More on CAN:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More
Videos

More News & Analysis on CAN