Canaan (NASDAQ:CAN) Earns Buy Rating from Rosenblatt Securities

Key Points

• Canaan's stock received a "Buy" rating from Rosenblatt Securities, with a price target of $4.00, indicating a potential upside of 426.11% from its current price.
• The company reported earnings of ($0.03) per share, exceeding analysts' expectations of ($0.13), and had revenue of $13.95 million for the quarter.
• Institutional investors own 70.14% of Canaan's stock, reflecting strong interest and confidence from major financial players.

Rosenblatt Securities reissued their buy rating on shares of Canaan (NASDAQ:CAN - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $4.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. Northland Securities started coverage on Canaan in a research note on Wednesday, June 18th. They set a "market perform" rating and a $1.50 price objective on the stock. Wall Street Zen upgraded Canaan from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Northland Capmk upgraded Canaan to a "hold" rating in a research note on Wednesday, June 18th. Zacks Research upgraded Canaan from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Finally, Benchmark reduced their price objective on Canaan from $3.00 to $2.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2.50.

Canaan Stock Performance

Shares of Canaan stock traded down $0.02 on Friday, hitting $0.75. 13,923,415 shares of the company's stock traded hands, compared to its average volume of 32,572,390. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.32 and a current ratio of 1.78. The firm's 50-day moving average is $0.73 and its 200 day moving average is $0.84. Canaan has a 52-week low of $0.53 and a 52-week high of $3.27.

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

Canaan announced that its board has initiated a share repurchase plan on Tuesday, May 27th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Canaan

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Canaan in the fourth quarter valued at $33,000. Wellington Management Group LLP bought a new stake in Canaan in the fourth quarter valued at $48,000. GMT Capital Corp bought a new stake in Canaan in the first quarter valued at $86,000. BNP Paribas Financial Markets bought a new stake in Canaan in the fourth quarter valued at $92,000. Finally, SBI Securities Co. Ltd. lifted its stake in Canaan by 32.1% in the second quarter. SBI Securities Co. Ltd. now owns 202,605 shares of the company's stock valued at $125,000 after buying an additional 49,206 shares during the last quarter. 70.14% of the stock is currently owned by institutional investors.

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.