Canaan (NASDAQ:CAN) Rating Lowered to “Sell” at Wall Street Zen

Canaan (NASDAQ:CAN) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

CAN has been the topic of several other research reports. Compass Point assumed coverage on shares of Canaan in a research report on Monday, September 15th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Canaan in a research report on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and set a $8.00 price target on shares of Canaan in a research report on Tuesday, October 14th. Rosenblatt Securities reiterated a “buy” rating and set a $4.00 price target on shares of Canaan in a research report on Monday, October 13th. Finally, B. Riley reduced their price target 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. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Canaan has a consensus rating of “Moderate Buy” and an average target price of $3.32.

Canaan Price Performance

CAN stock opened at $2.05 on Friday. The firm’s 50-day moving average price is $0.96 and its two-hundred day moving average price is $0.80. Canaan has a 12-month low of $0.53 and a 12-month high of $3.27. The stock has a market capitalization of $764.45 million, a price-to-earnings ratio of -2.28 and a beta of 3.49. The company has a current ratio of 1.78, a quick ratio of 1.32 and a debt-to-equity ratio of 0.07.

Canaan (NASDAQ:CAN) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) earnings per share (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 firm had revenue of $13.95 million for the quarter, compared to analysts’ expectations of $13.29 million. Canaan has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Canaan will post -0.74 earnings per share for the current year.

Institutional Investors Weigh In On Canaan

Hedge funds have recently bought and sold shares of the business. GMT Capital Corp bought a new stake in Canaan during the first quarter worth about $86,000. SBI Securities Co. Ltd. grew its holdings in shares of Canaan by 32.1% during the second quarter. SBI Securities Co. Ltd. now owns 202,605 shares of the company’s stock valued at $125,000 after buying an additional 49,206 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Canaan during the first quarter valued at approximately $320,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Canaan during the second quarter valued at approximately $355,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Canaan by 52.0% during the first quarter. Goldman Sachs Group Inc. now owns 587,451 shares of the company’s stock valued at $516,000 after buying an additional 200,869 shares during the last quarter. Institutional investors own 70.14% of the company’s stock.

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.