Rosenblatt Securities Has Lowered Expectations for Canaan (NASDAQ:CAN) Stock Price

Key Points

• Rosenblatt Securities cut its price target on Canaan from $2.25 to $1.30, while keeping a Buy rating. The new target still implies substantial upside from the stock’s previous close.
• Other analysts remain mixed on CAN, with recent actions including target cuts and rating changes; overall, the stock currently carries a Moderate Buy consensus and an average target price of $2.01.
• Canaan’s latest results and outlook have pressured sentiment: Q1 revenue was in line with guidance, but the company reported a wider-than-expected loss and issued weak Q2 revenue guidance, even as it expanded its bitcoin treasury and announced new energy-related projects.

Canaan (NASDAQ:CAN - Get Free Report) had its target price decreased by research analysts at Rosenblatt Securities from $2.25 to $1.30 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities' target price suggests a potential upside of 211.75% from the company's previous close.

A number of other brokerages have also commented on CAN. Benchmark decreased their price target on shares of Canaan from $4.00 to $2.00 and set a "buy" rating for the company in a research note on Wednesday, February 11th. Wall Street Zen upgraded shares of Canaan to a "sell" rating in a research note on Saturday, April 18th. HC Wainwright reaffirmed a "buy" rating and set a $1.50 price objective on shares of Canaan in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Canaan in a report on Monday, April 20th. Finally, BTIG Research reaffirmed a "buy" rating and set a $3.00 price objective on shares of Canaan in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $2.01.

Canaan Stock Performance

Shares of CAN stock opened at $0.42 on Wednesday. The firm has a market capitalization of $298.66 million, a PE ratio of -0.87 and a beta of 2.65. The firm has a fifty day simple moving average of $0.48 and a two-hundred day simple moving average of $0.68. The company has a current ratio of 3.31, a quick ratio of 1.93 and a debt-to-equity ratio of 0.06. Canaan has a 12 month low of $0.39 and a 12 month high of $2.22.

Hedge Funds Weigh In On Canaan

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. boosted its holdings in shares of Canaan by 155.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,698,885 shares of the company's stock worth $1,172,000 after buying an additional 1,034,040 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Canaan by 52.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 587,451 shares of the company's stock worth $516,000 after buying an additional 200,869 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Canaan in the 1st quarter worth about $43,000. Finally, Virtu Financial LLC purchased a new position in shares of Canaan in the 4th quarter worth about $46,000. 70.14% of the stock is owned by hedge funds and other institutional investors.

Canaan News Summary

Here are the key news stories impacting Canaan this week:

• Positive Sentiment: Canaan said Q1 revenue of $62.7 million was in line with its prior guidance, and it continued to expand its bitcoin treasury, which reached a record 1,807.6 BTC and 3,951.5 ETH at quarter-end. Canaan Inc. Reports Unaudited First Quarter 2026 Financial Results
• Positive Sentiment: The company also announced new energy-focused projects, including a 49% stake in ABC Projects in West Texas and a win to supply hash-to-heat equipment for a Nordic district heating network, supporting its push into higher-value, integrated compute infrastructure. Canaan Inc. Wins Competitive Bid to Provide Hash-to-Heat Equipment to Nordic District Heating Network
• Neutral Sentiment: BTIG Research reaffirmed its Buy rating and set a $3.00 price target, which may help sentiment, but the stock is being driven more by operating results than by analyst commentary. Benzinga report on BTIG rating reaffirmation
• Negative Sentiment: Q1 earnings came in at a loss of $0.13 per share, wider than expectations for a $0.07 loss, and revenue missed some estimates despite being close to the company’s own guidance. Canaan (CAN) Reports Q1 Loss, Lags Revenue Estimates
• Negative Sentiment: Investors are also reacting to weak second-quarter guidance, with revenue expected at $35 million to $45 million versus a much higher consensus estimate, suggesting near-term demand and profitability pressure. Canaan Inc. Reports Unaudited First Quarter 2026 Financial Results
• Negative Sentiment: Unusual options activity showed heavy put buying, indicating some traders are positioning for more downside after the earnings update. Canaan Inc Q1 2026 Earnings Call Highlights: Strategic Shifts Amid Market Challenges

About Canaan

Canaan Inc is a China-based technology company specializing in the design and manufacture of high-performance computing hardware for the digital currency and blockchain industry. The company's core business revolves around application-specific integrated circuit (ASIC) miners, which are purpose-built machines optimized for cryptocurrency mining. By focusing on energy efficiency and processing power, Canaan's mining rigs aim to deliver competitive hash rates while managing power consumption in large-scale operations.

The flagship product line, known as AvalonMiner, encompasses a range of models tailored to different scales of mining activity, from small-scale hobbyist setups to industrial farms.

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