Canaan (CAN) to Release Quarterly Earnings on Friday

Canaan (NASDAQ:CAN - Get Free Report) is expected to be releasing its Q1 2025 earnings data before the market opens on Friday, May 16th. Analysts expect the company to announce 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 announced 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 firm had revenue of $88.77 million for the quarter, compared to analyst estimates of $88.50 million. Canaan had a negative net margin of 128.85% and a negative return on equity of 60.37%. During the same period in the previous year, the firm posted ($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 Trading Up 14.9 %

Shares of Canaan stock traded up $0.10 on Friday, reaching $0.75. The company had a trading volume of 45,550,081 shares, compared to its average volume of 12,468,569. 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 firm's 50 day moving average price is $0.85 and its two-hundred day moving average price is $1.54. Canaan has a 52-week low of $0.53 and a 52-week high of $3.27. The firm has a market cap of $210.79 million, a PE ratio of -0.55 and a beta of 3.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAN shares. HC Wainwright reissued a "buy" rating and issued a $3.00 price objective on shares of Canaan in a research report on Thursday, March 27th. Benchmark assumed coverage on Canaan in a research report on Tuesday, May 6th. They set a "buy" rating and a $3.00 price target on the stock. Compass Point began coverage on Canaan in a research note on Tuesday, March 18th. They issued a "buy" rating and a $2.50 price objective for the company. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $8.00 target price on shares of Canaan in a report on Friday, April 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $3.70.

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.