Canaan (CAN) to Release Quarterly Earnings on Friday

Canaan (NASDAQ:CAN - Get Free Report) is set to announce its earnings results before the market opens on Friday, May 17th. Analysts expect the company to announce earnings of ($0.60) per share for the quarter. Canaan has set its Q2 2024 guidance at EPS and its Q1 2024 guidance at EPS.Investors interested in listening to the company's conference call can do so using this link.

Canaan (NASDAQ:CAN - Get Free Report) last announced its earnings results on Tuesday, February 27th. The company reported ($0.35) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.35). Canaan had a negative return on equity of 80.13% and a negative net margin of 195.84%. The business had revenue of $49.07 million for the quarter, compared to analyst estimates of $33.90 million.

Canaan Trading Up 3.7 %

Shares of CAN traded up $0.03 during midday trading on Friday, reaching $0.96. The stock had a trading volume of 11,969,832 shares, compared to its average volume of 11,565,126. The company's 50-day moving average is $1.21 and its 200 day moving average is $1.64. Canaan has a 12-month low of $0.75 and a 12-month high of $3.50. The company has a market capitalization of $224.00 million, a price-to-earnings ratio of -0.40 and a beta of 3.11.

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.