Streetbeat News

CAN

Canaan Inc.

Industry

Computer Hardware

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 primarily in the People's Republic of China. It is also involved in the assembly and distribution of mining equipment and spare parts. The company has a strategic cooperation with Northern Data AG in the areas of artificial intelligence development, blockchain technology, and datacenter operations. Canaan Inc. was founded in 2013 and is based in Beijing, the People's Republic of China.

Open

1.46

Mkt cap

358M

Volume

6.9M

High

1.47

P/E Ratio

-0.92

52-wk high

3.50

Low

1.38

Div yield

N/A

52-wk low

0.72

In Friday's intraday session, several IT stocks experienced significant movements. ComSovereign Holding (COMSP) led the gainers, rising 30.8%, followed by Argo Blockchain (ARBK), Stronghold Digital Mining (SDIG), Canaan (CAN), Soluna Holdings (SLNHP), and Bitdeer Technologies (BTDR) with substantial increases. On the losing side, Cemtrex (CETX) dropped 16.4% after Q4 earnings release, with Minim (MINM), WaveDancer (WAVD), Red Cat Holdings (RCAT), Nvni Group (NVNI), and OMNIQ (OMQS) also seeing declines.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 5:30 pm

CarMax, Inc. (NYSE:KMX) shares rose by approximately 8% following its quarterly earnings report, which showed an EPS of $0.52, surpassing the consensus estimate of $0.44, despite a 5.5% year-on-year sales decline. Other stocks experienced significant movements in Thursday's mid-day session, with various companies reporting investments, acquisitions, and regulatory updates that influenced their stock prices.

Portfolio Pulse from Avi Kapoor

December 21, 2023 | 6:01 pm

Micron Technology, Inc. (NASDAQ:MU) reported Q1 revenue of $4.73 billion, surpassing estimates, but posted a loss of 95 cents per share, missing expectations. The company's strong guidance led to a 5.7% increase in pre-market trading. Other stocks showing pre-market gains include Calliditas Therapeutics, Lands' End, Canaan Inc., Immunovant, TeraWulf, Cipher Mining, RingCentral, and HIVE Digital Technologies, with several influenced by Bitcoin strength and positive company-specific news.

Portfolio Pulse from Avi Kapoor

December 21, 2023 | 10:27 am

Ebang International Holdings Inc. (NASDAQ:EBON) stock has surged over 50% in the past five days, likely due to the Bitcoin rally and anticipation of a spot Bitcoin ETF approval. The company is known for its ASIC chip design and Bitcoin mining machines. Canaan Inc. (NASDAQ:CAN), another Bitcoin-mining hardware producer, has also seen significant gains, rising 29% on Wednesday and over 115% in the past five days. EBON is trading above its 50-day moving average and nearing its 52-week high.

Portfolio Pulse from Erica Kollmann

December 20, 2023 | 6:42 pm

Canaan Inc. (NASDAQ:CAN) stock has surged over 115% in the past five days, with heavy trading volume exceeding its 100-day average. The company, which manufactures blockchain computing equipment, is benefiting from the rally in Bitcoin prices and investor anticipation of a potential spot Bitcoin ETF approval. Bitcoin itself has risen nearly 4% in the last 24 hours, trading at $43,935.27. Canaan's stock is up 31% at $2.93 at the time of publication.

Portfolio Pulse from Erica Kollmann

December 20, 2023 | 6:01 pm

In Monday's intraday session, several IT stocks experienced significant movements. Crexendo, Quantum, Cipher Mining, Neonode, Canaan, and CSP saw gains, with Crexendo leading at a 22.4% increase. Conversely, Ebix, Inpixon, ICZOOM Group, Maxeon Solar Technologies, Alpha Technology Group, and Akerna faced declines, with Ebix dropping 69.6%. CSP's rise follows their Q4 earnings release 4 days ago.

Portfolio Pulse from Benzinga Insights

December 18, 2023 | 5:32 pm

Despite U.S. stock futures being higher, several stocks are moving lower in Monday's pre-market session. Companies like Gaotu Techedu, Cheche Group, and Northann Corp. are experiencing significant declines. The drop in Bitcoin's value is affecting stocks such as Marathon Digital Holdings, CleanSpark, Riot Platforms, and Canaan Inc. Iris Energy announced the acquisition of miners to increase mining capacity, yet its shares also declined.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 10:38 am

In Friday's pre-market session, several information technology stocks showed significant movement. Gainers included Near Intelligence (NIR), Canaan (CAN), Auddia (AUUD), Intrusion (INTZ), SPI Energy (SPI), and Phunware (PHUN) with increases ranging from 6.41% to 17.0%. Losers were Oblong (OBLG), FOXO Technologies (FOXO), Castellum (CTM), MKS Instruments (MKSI), Argo Blockchain (ARBK), and Cepton (CPTN), with declines between 4.11% and 8.7%.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 1:07 pm

In Thursday's intraday session, several information technology stocks experienced significant movements. FOXO Technologies (FOXO) saw a 36.2% increase, while Amtech Systems (ASYS) dropped by 30.9% following their Q4 earnings release. Other notable gainers include Canaan (CAN), Maxeon Solar Technologies (MAXN), Ebix (EBIX), Auddia (AUUD), and Akoustis Technologies (AKTS). On the losing side, Cepton (CPTN), Saverone 2014 (SVRE), ICZOOM Group (IZM), MariaDB (MRDB), and Casa Systems (CASA) saw their stock prices fall.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 5:31 pm

In Wednesday's after-market session, several information technology stocks experienced significant movements. Phunware, Digital Ally, Akoustis Technologies, Ascent Solar Technologies, EMCORE, and Castellum saw gains, with EMCORE's rise attributed to its Q4 earnings report released the previous day. Conversely, Amtech Systems, Cepton, Diebold Nixdorf, Saverone 2014, Adobe, and Canaan recorded losses. Notably, Amtech Systems' and Adobe's declines followed their Q4 earnings reports released on the same day.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 9:31 pm

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