Research Analysts Issue Forecasts for Canaan FY2025 Earnings

Key Points

• Northland Capital Markets has raised its FY2025 earnings per share estimate for Canaan Inc. from ($0.75) to ($0.45), indicating a more optimistic outlook for the company's financial performance.
• Canaan's recent quarterly results showed earnings of ($0.03), outperforming analyst expectations of ($0.13) and generating revenue of $13.95 million, exceeding the forecast of $13.29 million.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of $2.50, reflecting mixed sentiments among analysts, with several upgrades and downgrades issued recently.

Canaan Inc. Sponsored ADR (NASDAQ:CAN - Free Report) - Equities researchers at Northland Capmk raised their FY2025 earnings per share (EPS) estimates for Canaan in a research note issued to investors on Monday, August 18th. Northland Capmk analyst M. Grondahl now forecasts that the company will earn ($0.45) per share for the year, up from their previous forecast of ($0.75). Northland Capmk has a "Hold" rating 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 earnings results on Thursday, August 14th. The company reported ($0.03) 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 analyst estimates 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.

Several other equities analysts have also commented on CAN. B. Riley dropped their target price on Canaan from $3.00 to $2.00 and set a "buy" rating on the stock in a report on Thursday, July 10th. Rosenblatt Securities dropped their target price on Canaan from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Northland Securities started coverage on Canaan in a report on Wednesday, June 18th. They issued a "market perform" rating and a $1.50 target price on the stock. Zacks Research raised Canaan from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, Benchmark dropped their price objective on Canaan from $3.00 to $2.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $2.50.

Canaan Stock Up 0.1%

NASDAQ:CAN traded up $0.00 during trading hours on Thursday, hitting $0.74. The company's stock had a trading volume of 10,581,154 shares, compared to its average volume of 27,571,615. The stock has a market capitalization of $276.32 million, a P/E ratio of -0.83 and a beta of 3.25. The stock has a fifty day moving average of $0.72 and a 200-day moving average of $0.87. The company has a current ratio of 1.78, a quick ratio of 1.32 and a debt-to-equity ratio of 0.07. Canaan has a 52-week low of $0.53 and a 52-week high of $3.27.

Institutional Investors Weigh In On Canaan

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of Canaan during the fourth quarter worth about $33,000. Wellington Management Group LLP acquired a new stake in shares of Canaan during the fourth quarter worth about $48,000. BNP Paribas Financial Markets acquired a new stake in shares of Canaan during the fourth quarter worth about $92,000. GTS Securities LLC boosted its stake in shares of Canaan by 137.7% during the fourth quarter. GTS Securities LLC now owns 67,648 shares of the company's stock worth $139,000 after buying an additional 39,183 shares during the period. Finally, GMT Capital Corp acquired a new stake in shares of Canaan during the first quarter worth about $86,000. Institutional investors and hedge funds own 70.14% of the company's stock.

Canaan announced that its Board of Directors has authorized a stock repurchase 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 usually a sign that the company's board believes its shares are undervalued.

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.