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CAN Buyback image

Canaan Inc. Buyback

OLI recorded this information on 3/16/2022

Company: Canaan Inc.
Buyback: CAN buyback
$Amount Authorized: $100,000,000
Buyback Details: Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that its board of directors (the "Board") has authorized a share repurchase program under which the Company may repurchase up toUS$100 millionworth of its outstanding (i) American depositary shares ("ADSs"), each representing 15 Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 24 months starting fromMarch 16, 2022.

Canaan is a holding company. Through its subsidiaries, Co. is principally engaged in integrated circuit (IC) design and sale and lease of final system products by integrating its IC products for Bitcoin mining and related components in the People's Republic of China and other countries and regions. Co. provides a single line of Bitcoin mining machines, under the AvalonMiner brand. The AvalonMiner Bitcoin mining machines feature Co.'s proprietary application-specific ICs (ASICs), and the ASICs are integrated with components procured by Co. including a circuit board, power management unit boards, a cooling fan, heat sensors, and enclosed with an aluminum casing.
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CAN — Key Stats (updated Fri., Apr. 26, 11:31 AM)
Company Name:  Canaan Inc
Stock buyback:  CAN buyback
Website:  www.canaan-creative.com
Sector:  Semiconductors
Number of ETFs Holding CAN:  18
Total Market Value Held by ETFs:  $6.43M
 

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April 29, 2024  •  9:20 AM Eastern
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Avg. Broker Rec.

Strong Buy (4.00 out of 4)
96th percentile
(ranked higher than approx. 96% of all stocks covered)
Based on Zacks ABR data;
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