Canaan Plans $20M Share Buyback

  • High-performance computing solutions provider Canaan Inc's CAN board approved a $20 million share buyback program worth outstanding ADS, each representing 15 Class A shares over the next 12 months starting from September 20.
  • Canaan recently reported Q2 FY21 net earnings per ADS of $0.22.
  • Canaan held $189.0 million in cash and equivalents.
  • Price Action: CAN shares traded lower by 3.62% at $7.72 in the premarket session on the last check Monday.
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