Canaan (NASDAQ:CAN - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.12), Zacks reports. Canaan had a negative net margin of 128.85% and a negative return on equity of 60.37%. The business had revenue of $11.47 million during the quarter, compared to the consensus estimate of $75.14 million. Canaan updated its Q2 2025 guidance to EPS.
Canaan Stock Performance
Shares of NASDAQ:CAN traded down $0.07 during trading on Friday, reaching $0.63. 32,993,475 shares of the stock were exchanged, compared to its average volume of 13,456,572. Canaan has a 12 month low of $0.53 and a 12 month high of $3.27. The stock has a 50-day moving average price of $0.78 and a 200-day moving average price of $1.50. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm has a market cap of $178.41 million, a PE ratio of -0.47 and a beta of 3.26.
Hedge Funds Weigh In On Canaan
A hedge fund recently raised its stake in Canaan stock. Goldman Sachs Group Inc. raised its holdings in Canaan Inc. (NASDAQ:CAN - Free Report) by 52.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 587,451 shares of the company's stock after acquiring an additional 200,869 shares during the period. Goldman Sachs Group Inc. owned about 0.21% of Canaan worth $516,000 at the end of the most recent quarter. Institutional investors own 70.14% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. HC Wainwright reissued a "buy" rating and issued a $3.00 target price on shares of Canaan in a research note on Thursday, March 27th. Compass Point started coverage on Canaan in a research note on Tuesday, March 18th. They issued a "buy" rating and a $2.50 price target for the company. Benchmark cut 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 Wednesday. Finally, Rosenblatt Securities reduced their price objective on shares of Canaan from $8.00 to $5.00 and set a "buy" rating on the stock in a research note on Wednesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2.90.
Check Out Our Latest Research Report on Canaan
About Canaan
(
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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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