Canaan (NASDAQ:CAN) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Canaan (NASDAQ:CAN) has received a "Sell (D-)" rating from Weiss Ratings, indicating concerns about its performance in the market.
• While Weiss Ratings downgraded the stock, other analysts have mixed opinions, with five rating it as a Buy, three as Hold, and one as Sell, resulting in an average rating of "Hold" with a target price of $2.54.
• The stock recently traded at $1.28, with a market capitalization of $477.31 million and a 12-month range between $0.53 and $3.27.

Canaan (NASDAQ:CAN - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the company. Compass Point started coverage on Canaan in a research report on Monday, September 15th. They set a "buy" rating on the stock. Wall Street Zen downgraded Canaan from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Zacks Research raised Canaan from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Northland Capmk raised Canaan to a "hold" rating in a research report on Wednesday, June 18th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $4.00 price objective on shares of Canaan in a research report on Friday, September 12th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $2.54.

Canaan Trading Up 0.8%

NASDAQ:CAN traded up $0.01 during midday trading on Wednesday, hitting $1.28. 68,913,592 shares of the company traded hands, compared to its average volume of 30,517,982. The firm's fifty day moving average is $0.80 and its 200-day moving average is $0.76. Canaan has a 12-month low of $0.53 and a 12-month high of $3.27. The firm has a market capitalization of $477.31 million, a P/E ratio of -1.42 and a beta of 3.49. The company has a current ratio of 1.78, a quick ratio of 1.32 and a debt-to-equity ratio of 0.07.

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, topping analysts' consensus estimates of ($0.13) by $0.10. Canaan had a negative return on equity of 92.49% and a negative net margin of 77.01%.The business had revenue of $13.95 million for the quarter, compared to analyst estimates of $13.29 million. Canaan has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that Canaan will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Invesco Ltd. increased its position in shares of Canaan by 5,016.8% in the first quarter. Invesco Ltd. now owns 7,235,144 shares of the company's stock valued at $6,351,000 after buying an additional 7,093,743 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Canaan by 15.4% in the first 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 in the last quarter. Baader Bank Aktiengesellschaft increased its position in shares of Canaan by 82.6% during the first quarter. Baader Bank Aktiengesellschaft now owns 2,384,261 shares of the company's stock worth $2,089,000 after purchasing an additional 1,078,537 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Canaan by 35.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,855,479 shares of the company's stock worth $1,629,000 after purchasing an additional 486,139 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Canaan by 53.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 763,259 shares of the company's stock worth $670,000 after purchasing an additional 267,322 shares in the last quarter. 70.14% of the stock is currently owned by hedge funds and other 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.

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