Canaan Inc. Sponsored ADR (NASDAQ:CAN - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $1.80, but opened at $2.03. Canaan shares last traded at $1.92, with a volume of 46,248,028 shares trading hands.
Analyst Ratings Changes
A number of research firms recently issued reports on CAN. Rosenblatt Securities reiterated a "buy" rating and issued a $4.00 target price on shares of Canaan in a report on Monday. Northland Capmk upgraded Canaan to a "hold" rating in a report on Wednesday, June 18th. Wall Street Zen upgraded Canaan from a "sell" rating to a "hold" rating in a report on Saturday. Compass Point assumed coverage on Canaan in a report on Monday, September 15th. They set a "buy" rating for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Canaan in a report on Wednesday, October 8th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.32.
Check Out Our Latest Stock Report on Canaan
Canaan Price Performance
The stock has a market cap of $633.18 million, a price-to-earnings ratio of -1.89 and a beta of 3.49. The company has a 50-day moving average of $0.87 and a 200-day moving average of $0.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.32 and a current ratio of 1.78.
Canaan (NASDAQ:CAN - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.10. The firm had revenue of $13.95 million for 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 research analysts predict that Canaan Inc. Sponsored ADR will post -0.74 earnings per share for the current year.
Hedge Funds Weigh In On Canaan
Several institutional investors and hedge funds have recently added to or reduced their stakes in CAN. Invesco Ltd. increased its position in Canaan by 5,016.8% during the 1st 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 Canaan by 82.6% during the 1st 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 acquired a new position in Canaan during the 2nd quarter worth approximately $355,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Canaan by 15.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,941,515 shares of the company's stock worth $3,460,000 after acquiring an additional 525,772 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in shares of Canaan by 35.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,855,479 shares of the company's stock worth $1,629,000 after acquiring an additional 486,139 shares in the last quarter. Institutional investors and hedge funds own 70.14% of the company's stock.
Canaan Company Profile
(
Get Free Report)
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.
Further Reading
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