Canaan (NASDAQ:CAN) Stock Price Target Cut by BTIG Research

Key Points

• BTIG Research cut Canaan’s price target from $2.00 to $1.00 but maintained a “buy” rating. Analysts’ consensus rating was “Moderate Buy,” with an average target of $1.35.
• Canaan shares opened at $0.16 after a reported 19.1% decline, near their 52-week low of $0.15. The company planned a 1-for-25 reverse split.
• Canaan reported quarterly EPS of $0.01, beating estimates of a $0.06 loss, and revenue of $14.54 million versus a $2.05 million consensus estimate.

Canaan (NASDAQ:CAN - Get Free Report) had its target price decreased by investment analysts at BTIG Research from $2.00 to $1.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded Canaan from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, October 16th. Rosenblatt Securities restated a "buy" rating and set a $0.75 target price on shares of Canaan in a research note on Tuesday, September 15th. Zacks Research cut Canaan from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 15th. B. Riley Financial lowered their price target on Canaan from $2.00 to $1.50 and set a "buy" rating for the company in a report on Thursday, October 1st. Finally, JonesTrading raised shares of Canaan to a "strong-buy" rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Canaan has an average rating of "Moderate Buy" and a consensus price target of $1.35.

Canaan Stock Down 19.1%

Shares of Canaan stock opened at $0.16 on Wednesday. Canaan has a 52-week low of $0.15 and a 52-week high of $1.15. The company has a 50 day moving average of $0.29 and a 200 day moving average of $0.38. The company has a quick ratio of 1.67, a current ratio of 2.86 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $117.03 million, a P/E ratio of -0.37 and a beta of 2.56.

Canaan's stock is set to reverse split before the market opens on Friday, December 4th. The 1-25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, December 3rd.

Canaan (NASDAQ:CAN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 10th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.07. The company had revenue of $14.54 million for the quarter, compared to the consensus estimate of $2.05 million. Canaan had a negative net margin of 67.78% and a negative return on equity of 77.73%. During the same period in the prior year, the firm posted ($0.00) EPS. As a group, research analysts forecast that Canaan will post -0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Canaan stock. Vontobel Holding Ltd. purchased a new position in shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 423,658 shares of the company's stock, valued at approximately $146,000. Vontobel Holding Ltd. owned 0.06% of Canaan at the end of the most recent reporting period. Hedge funds and other institutional investors own 70.14% of the company's stock.

Key Canaan News

Here are the key news stories impacting Canaan this week:

• Positive Sentiment: Canaan reported Q3 GAAP net income of $8 million and earnings of $0.01 per share, beating the consensus estimate for a loss. It also announced an initial $20 million share repurchase program within a broader $100 million authorization, which could support shareholder returns. Canaan Q3 2026 financial results
• Positive Sentiment: The company received a conditional “Studied Load – Firm” classification for its 1 GW Duval County power project and advanced a second 1 GW Texas project, supporting its effort to expand into power and AI/HPC infrastructure. Canaan’s Texas power and AI/HPC plans
• Neutral Sentiment: Canaan plans a 1-for-25 reverse split of its ADSs, effective around December 4. The change adjusts the share count and per-share price but does not itself change the company’s underlying value. Canaan ADS ratio change announcement
• Negative Sentiment: Q3 revenue was $14.5 million, down about 90% year over year, as mining-rig sales slumped. The profit beat was therefore tempered by weak underlying hardware demand; reports attributed much of the profit to Bitcoin gains. Canaan Q3 revenue report
• Negative Sentiment: Q4 revenue guidance of $18 million–$22 million is below the roughly $29 million analyst consensus, signaling that the near-term recovery may be slower than expected. Canaan Q4 revenue outlook

About Canaan

Canaan Inc. is a technology company that develops application-specific integrated circuit (ASIC) products and related computing solutions. The company is best known for its Avalon series of Bitcoin mining machines, which are designed to perform the specialized computations required to validate transactions and support blockchain networks. In addition to cryptocurrency-mining equipment, Canaan develops high-performance computing hardware and artificial intelligence (AI) solutions. Its product portfolio has included AI accelerator chips, edge-computing devices and related software or systems intended for applications such as intelligent transportation, security, robotics and other data-intensive technologies.

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