Canaan Inc. Sponsored ADR $CAN Stock Position Increased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Canaan Inc. by 15.4% during the 1st quarter, owning approximately 3.94 million shares valued at $3.46 million.
• Multiple institutional investors, including Wellington Management Group and SBI Securities Co. Ltd., have also recently adjusted their stakes in Canaan, with institutional ownership at 70.14%.
• Canaan recently reported earnings that topped analysts' expectations, with a forecasted consensus rating of "Moderate Buy" and a target price of $2.50.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN - Free Report) by 15.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,941,515 shares of the company's stock after purchasing an additional 525,772 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.40% of Canaan worth $3,460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAN. Wellington Management Group LLP purchased a new stake in Canaan during the 4th quarter worth approximately $48,000. GMT Capital Corp purchased a new stake in Canaan during the 1st quarter worth approximately $86,000. BNP Paribas Financial Markets purchased a new stake in Canaan during the 4th quarter worth approximately $92,000. SBI Securities Co. Ltd. increased its holdings in Canaan by 280.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 153,399 shares of the company's stock worth $135,000 after purchasing an additional 113,049 shares during the last quarter. Finally, GTS Securities LLC increased its holdings in Canaan by 137.7% during the 4th quarter. GTS Securities LLC now owns 67,648 shares of the company's stock worth $139,000 after purchasing an additional 39,183 shares during the last quarter. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

Canaan Stock Performance

CAN stock traded up $0.01 during trading on Thursday, reaching $0.82. 25,679,688 shares of the company's stock were exchanged, compared to its average volume of 23,603,820. 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 Inc. Sponsored ADR has a 1-year low of $0.53 and a 1-year high of $3.27. The company's fifty day moving average price is $0.76 and its 200-day moving average price is $0.77. The firm has a market cap of $305.74 million, a PE ratio of -0.91 and a beta of 3.45.

Canaan (NASDAQ:CAN - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (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 during the quarter, compared to analyst estimates of $13.29 million. Canaan has set its Q3 2025 guidance at EPS. On average, research analysts expect that Canaan Inc. Sponsored ADR will post -0.74 EPS for the current fiscal year.

Canaan declared that its Board of Directors has initiated a share buyback program on Tuesday, May 27th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CAN shares. Compass Point assumed coverage on Canaan in a report on Monday. They set a "buy" rating on the stock. Northland Securities assumed coverage on Canaan in a report on Wednesday, June 18th. They issued a "market perform" rating and a $1.50 price target for the company. Northland Capmk upgraded Canaan to a "hold" rating in a report on Wednesday, June 18th. Benchmark lowered their price target on Canaan from $3.00 to $2.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $4.00 price target on shares of Canaan in a report on Friday, September 12th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $2.50.

About Canaan

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.