Canaan (LON:CAN) Trading 0.1% Higher – Should You Buy?

Canaan Inc (LON:CAN)’s stock price traded up 0.1% during mid-day trading on Thursday . The stock traded as high as GBX 243.90 ($3.31) and last traded at GBX 242.50 ($3.29). 243,211 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 4,673,698 shares. The stock had previously closed at GBX 242.20 ($3.29).

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft increased their target price on Canaan from GBX 270 to GBX 300 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 300.

Canaan Trading Up 0.1%

The firm has a 50 day simple moving average of GBX 235.87 and a 200 day simple moving average of GBX 204.83. The firm has a market capitalization of £2.41 billion and a PE ratio of -1,616.67.

Insider Activity at Canaan

In other Canaan news, insider Anna Marsh acquired 15,000 shares of the business’s stock in a transaction on Friday, August 1st. The stock was bought at an average price of GBX 248 per share, for a total transaction of £37,200. 0.34% of the stock is owned by insiders.

Canaan Company Profile

Starting its life as a French subscription-TV channel 40 years ago, CANAL+ today is a global media and entertainment company with a brand recognised worldwide amongst the Top 50 Most Valuable French Brands, globally (source: Kantar Brandz, 2023). It generates revenues in 195 countries and operates directly in 52 countries across Europe, Africa, Asia, and the United States, with a total of approximately 9,000 employees worldwide.