Canaan’s (CAN) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Canaan (NASDAQ:CAN) in a report issued on Monday morning,Benzinga reports. Rosenblatt Securities currently has a $4.00 target price on the stock.

A number of other research firms also recently issued reports on CAN. Wall Street Zen raised Canaan from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. B. Riley lowered their target price on Canaan from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, July 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Canaan in a research report on Wednesday, October 8th. Zacks Research raised Canaan from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, Compass Point assumed coverage on Canaan in a research report on Monday, September 15th. They issued a “buy” rating on the stock. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.32.

Canaan Stock Performance

CAN opened at $1.96 on Monday. The business’s 50-day moving average price is $0.90 and its two-hundred day moving average price is $0.78. Canaan has a 1 year low of $0.53 and a 1 year high of $3.27. The company has a market capitalization of $730.88 million, a price-to-earnings ratio of -2.18 and a beta of 3.49. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.78 and a quick ratio of 1.32.

Canaan (NASDAQ:CAN) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.10. Canaan had a negative return on equity of 92.49% and a negative net margin of 77.01%.The firm 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 expect that Canaan will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Canaan

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Canaan by 15.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,941,515 shares of the company’s stock worth $3,460,000 after buying an additional 525,772 shares during the last quarter. Invesco Ltd. increased its position in Canaan by 5,016.8% during the first quarter. Invesco Ltd. now owns 7,235,144 shares of the company’s stock worth $6,351,000 after buying an additional 7,093,743 shares during the last quarter. SBI Securities Co. Ltd. increased its position in 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 during the last quarter. GMT Capital Corp acquired a new position in Canaan during the first quarter worth approximately $86,000. Finally, Virtu Financial LLC bought a new stake in shares of Canaan during the first quarter worth approximately $320,000. Institutional investors and hedge funds 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.