Canaan Inc. Sponsored ADR (NASDAQ:CAN) Receives $2.50 Consensus PT from Analysts

Shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN) have been given an average rating of “Hold” by the nine research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $2.5417.

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Canaan in a report on Saturday, September 27th. B. Riley decreased their target price 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. Compass Point initiated coverage on shares of Canaan in a research report on Monday, September 15th. They issued a “buy” rating for the company. Northland Securities set a $1.75 price objective on Canaan in a report on Friday. Finally, Zacks Research upgraded Canaan from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th.

Canaan Trading Down 0.8%

Shares of CAN opened at $1.31 on Friday. The stock’s 50-day moving average price is $0.77 and its 200 day moving average price is $0.75. 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 has a 12-month low of $0.53 and a 12-month high of $3.27. The firm has a market capitalization of $488.50 million, a price-to-earnings ratio of -1.46 and a beta of 3.49.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CAN. Wellington Management Group LLP bought a new stake in shares of Canaan in the 4th quarter worth about $48,000. GMT Capital Corp bought a new stake in Canaan during the first quarter worth about $86,000. SBI Securities Co. Ltd. increased its holdings in shares of Canaan by 280.2% during the first quarter. SBI Securities Co. Ltd. now owns 153,399 shares of the company’s stock worth $135,000 after buying an additional 113,049 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Canaan by 27,909.6% in the fourth quarter. Bank of America Corp DE now owns 339,756 shares of the company’s stock valued at $696,000 after acquiring an additional 338,543 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Canaan in the 1st quarter worth approximately $320,000. 70.14% of the stock is owned by institutional investors.

About Canaan

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.