Brokerages Set Canaan Inc. Sponsored ADR (NASDAQ:CAN) PT at $2.67

Shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $2.50.

CAN has been the topic of a number of recent analyst reports. Rosenblatt Securities dropped their price objective on shares of Canaan from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. B. Riley dropped their price objective on shares of Canaan from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, July 10th. Wall Street Zen raised shares of Canaan from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Northland Securities initiated coverage on shares of Canaan in a research report on Wednesday, June 18th. They issued a “market perform” rating and a $1.50 price objective on the stock. Finally, Benchmark dropped their price objective on shares of Canaan from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, May 21st.

Canaan Trading Up 0.6%

Shares of NASDAQ:CAN opened at $0.6747 on Thursday. Canaan has a 52 week low of $0.5347 and a 52 week high of $3.27. The company’s 50 day moving average is $0.72 and its two-hundred day moving average is $0.90. The company has a current ratio of 1.78, a quick ratio of 1.11 and a debt-to-equity ratio of 0.07. The company has a market cap of $251.60 million, a PE ratio of -0.75 and a beta of 3.25.

Canaan (NASDAQ:CAN) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. Canaan had a negative net margin of 77.01% and a negative return on equity of 92.49%. The company had revenue of $13.95 million for the quarter, compared to the consensus estimate of $13.29 million. Canaan has set its Q3 2025 guidance at EPS. Equities analysts predict that Canaan will post -0.74 earnings per share for the current fiscal year.

Canaan declared that its board has approved a share buyback plan on Tuesday, May 27th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CAN. Raymond James Financial Inc. purchased a new position in shares of Canaan in the 4th quarter valued at $33,000. Wellington Management Group LLP purchased a new position in shares of Canaan in the 4th quarter valued at $48,000. GMT Capital Corp purchased a new position in shares of Canaan in the 1st quarter valued at $86,000. PEAK6 LLC purchased a new position in shares of Canaan in the 4th quarter valued at $92,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Canaan in the 4th quarter valued at $92,000. 70.14% of the stock is owned by hedge funds and other institutional investors.

Canaan Company Profile

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 in the People's Republic of China. It is also involved in the assembly and distribution of mining equipment and spare parts.