Canaan (NASDAQ:CAN) Sees Large Volume Increase – Still a Buy?

Shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN) saw unusually-high trading volume on Friday . 41,167,471 shares changed hands during trading, an increase of 41% from the previous session’s volume of 29,276,188 shares.The stock last traded at $1.38 and had previously closed at $1.32.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CAN. Northland Securities set a $1.75 price target on shares of Canaan in a research report on Friday. Compass Point began coverage on shares of Canaan in a research report on Monday, September 15th. They issued a “buy” rating on the stock. Wall Street Zen lowered shares of Canaan from a “hold” rating to a “sell” rating in a research report on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $4.00 price target on shares of Canaan in a research report on Friday, September 12th. Finally, Northland Capmk raised shares of Canaan to a “hold” rating in a research report on Wednesday, June 18th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Canaan has an average rating of “Hold” and an average target price of $2.54.

Canaan Price Performance

The stock’s 50-day moving average is $0.77 and its 200-day moving average is $0.75. The firm has a market cap of $488.50 million, a P/E ratio of -1.46 and a beta of 3.49. The company has a quick ratio of 1.32, a current ratio of 1.78 and a debt-to-equity ratio of 0.07.

Canaan (NASDAQ:CAN) last announced its earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 business had revenue of $13.95 million for the quarter, compared to analyst estimates of $13.29 million. Canaan has set its Q3 2025 guidance at EPS. As a group, equities analysts anticipate that Canaan Inc. Sponsored ADR will post -0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Canaan

Several institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. increased its holdings in Canaan by 5,016.8% in the 1st quarter. Invesco Ltd. now owns 7,235,144 shares of the company’s stock valued at $6,351,000 after buying an additional 7,093,743 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Canaan by 15.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,941,515 shares of the company’s stock valued at $3,460,000 after buying an additional 525,772 shares during the period. Baader Bank Aktiengesellschaft increased its holdings in Canaan by 82.6% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 2,384,261 shares of the company’s stock valued at $2,089,000 after buying an additional 1,078,537 shares during the period. Exchange Traded Concepts LLC increased its holdings in Canaan by 35.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,855,479 shares of the company’s stock valued at $1,629,000 after buying an additional 486,139 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Canaan by 53.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 763,259 shares of the company’s stock valued at $670,000 after buying an additional 267,322 shares during the period. Institutional investors own 70.14% of the company’s stock.

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.