Canaan (CAN) to Release Quarterly Earnings on Tuesday

Canaan (NASDAQ:CAN - Get Free Report) is expected to post its Q1 2025 quarterly earnings results before the market opens on Tuesday, May 20th. Analysts expect Canaan to post earnings of ($0.15) per share and revenue of $75.14 million for the quarter. Canaan has set its Q1 2025 guidance at EPS and its FY 2025 guidance at EPS.

Canaan (NASDAQ:CAN - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($1.29). The business had revenue of $88.77 million for the quarter, compared to analysts' expectations of $88.50 million. Canaan had a negative return on equity of 60.37% and a negative net margin of 128.85%. During the same quarter in the prior year, the business earned ($2.16) EPS. On average, analysts expect Canaan to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Canaan Price Performance

Shares of NASDAQ CAN traded down $0.04 during midday trading on Wednesday, reaching $0.84. The stock had a trading volume of 15,257,640 shares, compared to its average volume of 12,695,701. The stock has a 50-day moving average of $0.84 and a 200-day moving average of $1.53. 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 market capitalization of $236.81 million, a price-to-earnings ratio of -0.62 and a beta of 3.26. Canaan has a 12-month low of $0.53 and a 12-month high of $3.27.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HC Wainwright reissued a "buy" rating and issued a $3.00 price objective on shares of Canaan in a research note on Thursday, March 27th. Rosenblatt Securities reissued a "buy" rating and issued a $8.00 price objective on shares of Canaan in a research note on Friday, April 11th. Benchmark assumed coverage on shares of Canaan in a research note on Tuesday, May 6th. They issued a "buy" rating and a $3.00 price objective for the company. Finally, Compass Point assumed coverage on shares of Canaan in a research note on Tuesday, March 18th. They set a "buy" rating and a $2.50 target price for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Canaan has a consensus 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.