Canaan (NASDAQ:CAN) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Canaan Inc. experienced a significant increase in trading volume on Friday, with approximately 47.5 million shares traded, marking a 46% rise from the previous session.
• Wall Street analysts have given Canaan a "Moderate Buy" rating, with the average target price set at $3.32, and multiple firms have issued target prices ranging from $1.75 to $8.00.
• Despite a negative return on equity and net margin, Canaan posted an EPS of ($0.03) for its last quarter, outperforming analysts' expectations of ($0.13).

Canaan Inc. Sponsored ADR (NASDAQ:CAN - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 47,537,877 shares changed hands during trading, an increase of 46% from the previous session's volume of 32,614,936 shares.The stock last traded at $1.54 and had previously closed at $1.67.

Wall Street Analysts Forecast Growth

CAN has been the subject of several research reports. Northland Securities set a $1.75 target price on Canaan in a research report on Friday, October 3rd. Rosenblatt Securities reiterated a "buy" rating and issued a $4.00 target price on shares of Canaan in a research report on Monday. Compass Point initiated coverage on Canaan in a research report on Monday, September 15th. They issued a "buy" rating for the company. BTIG Research reiterated a "buy" rating and issued a $8.00 target price on shares of Canaan in a research report on Tuesday. Finally, Zacks Research raised Canaan from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $3.32.

Canaan Stock Down 6.3%

The firm has a 50 day simple moving average of $0.91 and a two-hundred day simple moving average of $0.78. 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 stock has a market cap of $583.59 million, a P/E ratio of -1.75 and a beta of 3.49.

Canaan (NASDAQ:CAN - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) EPS 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 company had revenue of $13.95 million for the quarter, compared to the consensus estimate of $13.29 million. Canaan has set its Q3 2025 guidance at EPS. Equities research analysts predict that Canaan Inc. Sponsored ADR will post -0.74 earnings per share for the current year.

Institutional Trading of Canaan

A number of hedge funds and other institutional investors have recently modified their holdings of CAN. GMT Capital Corp acquired a new position in shares of Canaan in the 1st quarter worth $86,000. SBI Securities Co. Ltd. grew its holdings in shares of Canaan by 280.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 153,399 shares of the company's stock worth $135,000 after acquiring an additional 113,049 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Canaan in the 1st quarter worth $320,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Canaan in the 2nd quarter worth $355,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of 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 acquiring an additional 200,869 shares during the last quarter. 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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