Canaan (NASDAQ:CAN) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Canaan Inc. has been downgraded from a "hold" to a "sell" rating by analysts at Wall Street Zen.
• The stock price of Canaan has decreased by 0.8%, trading at $1.31 with a market capitalization of $488.50 million.
• Analysts currently have an average rating of "hold" for Canaan, with a price target set at $2.54.

Canaan (NASDAQ:CAN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Friday.

CAN has been the subject of several other research reports. Compass Point initiated coverage on Canaan in a report on Monday, September 15th. They issued a "buy" rating for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Canaan in a report on Saturday, September 27th. Northland Securities set a $1.75 price target on Canaan in a report on Friday. B. Riley cut their price target on Canaan from $3.00 to $2.00 and set a "buy" rating for the company in a report on Thursday, July 10th. Finally, Zacks Research raised Canaan from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.54.

Canaan Stock Down 0.8%

Shares of NASDAQ CAN traded down $0.01 during trading hours on Friday, hitting $1.31. The company had a trading volume of 128,847,908 shares, compared to its average volume of 45,616,224. The stock has a market capitalization of $488.50 million, a P/E ratio of -1.46 and a beta of 3.49. The company has a quick ratio of 1.32, a current ratio of 1.78 and a debt-to-equity ratio of 0.07. Canaan has a 1-year low of $0.53 and a 1-year high of $3.27. The firm's 50 day moving average is $0.77 and its 200-day moving average is $0.75.

Canaan (NASDAQ:CAN - Get Free Report) last released its quarterly earnings data 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 the consensus estimate 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, analysts expect that Canaan will post -0.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CAN. 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 worth $6,351,000 after purchasing an additional 7,093,743 shares during the period. Baader Bank Aktiengesellschaft increased its position in shares of Canaan by 82.6% in 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 during the period. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Canaan in the second quarter worth $355,000. 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 worth $3,460,000 after purchasing an additional 525,772 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Canaan by 35.5% in 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 during the period. Institutional investors own 70.14% of the company's stock.

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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