Canaan Inc. Sponsored ADR (NASDAQ:CAN) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Canaan Inc. has been assigned a consensus rating of "Moderate Buy" by eight analysts, with an average target price of $2.50 for the stock.
• Institutional investors hold a significant stake in Canaan, with 70.14% of the stock owned by hedge funds and other institutional investors.
• The company reported a quarterly earnings per share (EPS) of ($0.03), surpassing the consensus estimate of ($0.13).

Canaan Inc. Sponsored ADR (NASDAQ:CAN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $2.50.

Several research firms recently issued reports on CAN. Northland Securities initiated coverage on shares of Canaan in a research report on Wednesday, June 18th. They issued a "market perform" rating and a $1.50 price target for the company. Northland Capmk raised shares of Canaan to a "hold" rating in a research report on Wednesday, June 18th. Compass Point initiated coverage on shares of Canaan in a report on Monday, September 15th. They issued a "buy" rating on the stock. B. Riley dropped 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. Finally, Wall Street Zen raised Canaan from a "sell" rating to a "hold" rating in a report on Saturday, August 16th.

Institutional Investors Weigh In On Canaan

A number of institutional investors and hedge funds have recently bought and sold shares of CAN. SBI Securities Co. Ltd. boosted its holdings 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 acquiring an additional 49,206 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Canaan during the second quarter worth about $355,000. Goldman Sachs Group Inc. grew its position in Canaan by 52.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 587,451 shares of the company's stock worth $516,000 after purchasing an additional 200,869 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Canaan by 15.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,941,515 shares of the company's stock valued at $3,460,000 after buying an additional 525,772 shares during the last quarter. Finally, GMT Capital Corp bought a new position in shares of Canaan during the 1st quarter worth approximately $86,000. 70.14% of the stock is owned by hedge funds and other institutional investors.

Canaan Stock Performance

Shares of Canaan stock opened at $1.32 on Friday. The business has a 50-day simple moving average of $0.76 and a 200 day simple moving average of $0.75. Canaan has a one year low of $0.53 and a one year high of $3.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.78 and a quick ratio of 1.32. The firm has a market capitalization of $492.23 million, a price-to-earnings ratio of -1.47 and a beta of 3.49.

Canaan (NASDAQ:CAN - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.10. The business had revenue of $13.95 million for the quarter, compared to analyst estimates 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 anticipate that Canaan will post -0.74 earnings per share for the current fiscal year.

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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