Canaan (CAN) announced that its chairman and CEO, Nangeng Zhang, and CFO, Jin “James” Cheng, had purchased additional shares of the company’s stock in the open market. The purchases were made in compliance with the company’s internal trading policies and applicable securities regulations. Aligning themselves with shareholder interests, Zhang and Cheng together acquired a total of 1,456,547 American Depositary Shares of the company at an average price of 51c per ADS, which reflected their continued confidence in the company’s long-term strategy and growth prospects. These purchases were made after Zhang had filed the most recent amendment No.6 to Schedule 13G on February 13. “My recent share purchases reflect my strong conviction in Canaan’s long-term vision and the opportunities ahead,” said Nangeng Zhang. “Both James and I believe our current market valuation does not fully reflect the strength of our technology, strategy, and growth potential, and we remain confident in the value we are building for shareholders.”
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAN:
- Crypto Currents: Meta plans entry into stablecoin space
- Crypto Currents: Circle crushes estimates as treasury stocks face record shorts
- Canaan price target lowered to $2 from $2.50 at B. Riley
- Canaan Buys Cipher’s Texas Mining Stakes, Expands Low-Cost U.S. Power Footprint
- Canaan acquires Cipher Mining’s interest in multiple Texas mining projects