Benchmark Issues Positive Forecast for Canaan (NASDAQ:CAN) Stock Price

Key Points

• Benchmark increased its price target for Canaan(NASDAQ:CAN) stock from $2.00 to $4.00, suggesting a potential upside of 134.60%.
• Canaan recently reported earnings of ($0.03) per share, exceeding analysts' expectations, and has set its Q3 2025 guidance at EPS.
• Institutional investors currently hold 70.14% of Canaan's stock, indicating growing confidence from large investors in the company.

Canaan (NASDAQ:CAN - Get Free Report) had its price objective increased by research analysts at Benchmark from $2.00 to $4.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's price objective would suggest a potential upside of 134.60% from the stock's current price.

Other equities analysts have also issued reports about the stock. Northland Securities set a $1.75 target price on shares of Canaan in a report on Friday, October 3rd. Compass Point began coverage on shares of Canaan in a research report on Monday, September 15th. They set a "buy" rating on the stock. BTIG Research restated a "buy" rating and set a $8.00 price objective on shares of Canaan in a research report on Tuesday, October 14th. B. Riley restated a "buy" rating on shares of Canaan in a research note on Wednesday. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $4.00 price target on shares of Canaan in a research note on Monday, October 13th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $3.61.

Canaan Trading Down 12.6%

Shares of CAN stock opened at $1.71 on Thursday. The stock has a market cap of $635.79 million, a P/E ratio of -1.89 and a beta of 3.49. Canaan has a 1 year low of $0.53 and a 1 year high of $3.27. The company has a current ratio of 1.78, a quick ratio of 1.32 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $1.00 and a 200 day simple moving average of $0.81.

Canaan (NASDAQ:CAN - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.10. The firm had revenue of $13.95 million during the quarter, compared to the consensus estimate 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. On average, research analysts predict that Canaan will post -0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its position in Canaan by 32.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 202,605 shares of the company's stock worth $125,000 after buying an additional 49,206 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Canaan in the 2nd quarter valued at approximately $355,000. Goldman Sachs Group Inc. raised its stake 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 acquiring an additional 200,869 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 purchasing an additional 525,772 shares during the period. Finally, GMT Capital Corp bought a new stake in shares of Canaan in the first quarter worth $86,000. Institutional investors and hedge funds 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.

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