Canaan (NASDAQ:CAN) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Canaan (NASDAQ:CAN) announced its earnings results on Tuesday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.12), Zacks reports. Canaan had a negative return on equity of 60.37% and a negative net margin of 128.85%. Canaan updated its Q2 2025 guidance to EPS.

Canaan Stock Up 3.4%

Shares of CAN opened at $0.82 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.45 and a current ratio of 2.03. The company has a 50-day simple moving average of $0.81 and a 200-day simple moving average of $1.52. Canaan has a 52 week low of $0.53 and a 52 week high of $3.27. The firm has a market capitalization of $230.90 million, a P/E ratio of -0.61 and a beta of 3.26.

Institutional Investors Weigh In On Canaan

A hedge fund recently raised its stake in Canaan stock. Goldman Sachs Group Inc. grew its position in Canaan Inc. (NASDAQ:CAN) by 52.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 587,451 shares of the company’s stock after acquiring an additional 200,869 shares during the quarter. Goldman Sachs Group Inc. owned 0.21% of Canaan worth $516,000 as of its most recent SEC filing. 70.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAN has been the subject of several recent analyst reports. Compass Point assumed coverage on shares of Canaan in a report on Tuesday, March 18th. They set a “buy” rating and a $2.50 price objective for the company. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Canaan in a report on Thursday, March 27th. Benchmark assumed coverage on Canaan in a research report on Tuesday, May 6th. They issued a “buy” rating and a $3.00 price target on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $8.00 price objective on shares of Canaan in a research report on Thursday, May 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Canaan currently has an average rating of “Moderate Buy” and an average target price of $3.70.

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.