Research Analysts Issue Forecasts for Canaan FY2025 Earnings

Canaan Inc. (NASDAQ:CAN - Free Report) - Analysts at HC Wainwright issued their FY2025 EPS estimates for Canaan in a report released on Wednesday, May 21st. HC Wainwright analyst K. Dede expects that the company will post earnings of ($0.15) per share for the year. HC Wainwright has a "Buy" rating and a $3.00 price objective on the stock. The consensus estimate for Canaan's current full-year earnings is ($0.74) per share.

Canaan (NASDAQ:CAN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($1.29). Canaan had a negative return on equity of 60.37% and a negative net margin of 128.85%. The firm had revenue of $88.77 million for the quarter, compared to analysts' expectations of $88.50 million. During the same quarter in the previous year, the firm posted ($2.16) earnings per share.

Several other equities analysts have also recently weighed in on CAN. Rosenblatt Securities lowered their price objective on shares of Canaan from $8.00 to $5.00 and set a "buy" rating on the stock in a research report on Wednesday. Compass Point began coverage on shares of Canaan in a research note on Tuesday, March 18th. They issued a "buy" rating and a $2.50 price target on the stock. Finally, Benchmark dropped their price target on shares of Canaan from $3.00 to $2.00 and set a "buy" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2.90.

Canaan Trading Down 9.4%

NASDAQ CAN traded down $0.07 on Friday, hitting $0.63. 32,993,475 shares of the stock were exchanged, compared to its average volume of 13,456,572. Canaan has a 52-week low of $0.53 and a 52-week high of $3.27. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.03 and a quick ratio of 1.45. The company has a market capitalization of $178.41 million, a price-to-earnings ratio of -0.47 and a beta of 3.26. The company's 50-day moving average price is $0.78 and its two-hundred day moving average price is $1.51.

Institutional Investors Weigh In On Canaan

Several institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of Canaan by 12.9% in the 4th quarter. Van ECK Associates Corp now owns 10,368,217 shares of the company's stock valued at $21,255,000 after purchasing an additional 1,187,796 shares during the last quarter. Vanguard Group Inc. lifted its position in Canaan by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 8,760,909 shares of the company's stock worth $17,960,000 after acquiring an additional 223,241 shares during the last quarter. Invesco Ltd. lifted 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 acquiring an additional 7,093,743 shares during the last quarter. Tidal Investments LLC acquired a new position in Canaan during the 4th quarter worth $9,584,000. Finally, Vident Advisory LLC lifted its position in Canaan by 2,306.4% during the 4th quarter. Vident Advisory LLC now owns 4,311,718 shares of the company's stock worth $8,839,000 after acquiring an additional 4,132,539 shares during the last quarter. Institutional investors and hedge funds own 70.14% of the company's stock.

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.