Canaan Inc. Sponsored ADR $CAN Holdings Raised by Invesco Ltd.

Key Points

• Invesco Ltd. significantly increased its stake in Canaan Inc. by acquiring over 7 million shares, resulting in a total ownership of approximately 2.57% valued at $6.35 million.
• Institutional investors own 70.14% of Canaan's stock, with multiple firms, including JPMorgan Chase and Bank of America, also purchasing new positions.
• Canaan reported earnings of ($0.03) EPS, exceeding analyst expectations, but has a negative net margin of 77.01%, indicating ongoing financial challenges.

Invesco Ltd. increased its position in Canaan Inc. Sponsored ADR (NASDAQ:CAN - Free Report) by 5,016.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,235,144 shares of the company's stock after purchasing an additional 7,093,743 shares during the quarter. Invesco Ltd. owned 2.57% of Canaan worth $6,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Canaan in the fourth quarter valued at $33,000. Wellington Management Group LLP purchased a new position in shares of Canaan in the fourth quarter valued at $48,000. GTS Securities LLC boosted its stake in shares of Canaan by 137.7% in the fourth quarter. GTS Securities LLC now owns 67,648 shares of the company's stock valued at $139,000 after purchasing an additional 39,183 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Canaan in the fourth quarter valued at $92,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Canaan by 280.2% in the first quarter. SBI Securities Co. Ltd. now owns 153,399 shares of the company's stock valued at $135,000 after purchasing an additional 113,049 shares during the period. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

Canaan Stock Performance

Shares of NASDAQ:CAN traded down $0.02 on Friday, reaching $0.75. 13,923,415 shares of the company's stock were exchanged, compared to its average volume of 34,349,076. The firm has a market capitalization of $277.81 million, a price-to-earnings ratio of -0.83 and a beta of 3.25. Canaan Inc. Sponsored ADR has a fifty-two week low of $0.53 and a fifty-two week high of $3.27. The business's 50-day moving average is $0.73 and its two-hundred day moving average is $0.85. 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 (NASDAQ:CAN - Get Free Report) last issued 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. The company had revenue of $13.95 million for the quarter, compared to analysts' expectations of $13.29 million. Canaan had a negative net margin of 77.01% and a negative return on equity of 92.49%. Canaan has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Canaan Inc. Sponsored ADR will post -0.74 EPS for the current year.

Canaan announced that its board has authorized a share buyback program on Tuesday, May 27th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. B. Riley cut their price target on shares of Canaan from $3.00 to $2.00 and set a "buy" rating on the stock in a report on Thursday, July 10th. Zacks Research raised shares of Canaan from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Northland Capmk raised shares of Canaan to a "hold" rating in a report on Wednesday, June 18th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $4.00 price target on shares of Canaan in a report on Friday. Finally, Wall Street Zen raised shares of Canaan from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $2.50.

Canaan 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.