Q2 Earnings Estimate for Canaan Issued By B. Riley

Canaan Inc. Sponsored ADR (NASDAQ:CAN - Free Report) - B. Riley issued their Q2 2025 earnings estimates for shares of Canaan in a research report issued to clients and investors on Wednesday, July 9th. B. Riley analyst N. Giles expects that the company will earn ($0.08) per share for the quarter. B. Riley has a "Buy" rating and a $2.00 price objective on the stock. The consensus estimate for Canaan's current full-year earnings is ($0.74) per share. B. Riley also issued estimates for Canaan's Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at ($0.40) EPS and FY2026 earnings at $0.06 EPS.

A number of other research firms also recently commented on CAN. Wall Street Zen downgraded shares of Canaan from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Benchmark lowered their price objective on shares of Canaan from $3.00 to $2.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Compass Point assumed coverage on shares of Canaan in a research note on Tuesday, March 18th. They issued a "buy" rating and a $2.50 price objective on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Canaan in a research note on Tuesday, July 8th. Finally, Northland Capmk raised shares of Canaan to a "hold" rating in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Canaan currently has a consensus rating of "Hold" and an average price target of $2.67.

Canaan Stock Performance

Shares of CAN stock traded up $0.25 during trading hours on Friday, reaching $0.97. The stock had a trading volume of 189,911,970 shares, compared to its average volume of 23,441,123. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.50 and a quick ratio of 1.11. Canaan has a twelve month low of $0.53 and a twelve month high of $3.27. The firm has a 50-day simple moving average of $0.67 and a 200-day simple moving average of $1.14. The firm has a market capitalization of $361.90 million, a PE ratio of -0.95 and a beta of 3.29.

Institutional Trading of Canaan

Several large investors have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Canaan in the 4th quarter valued at $92,000. Millennium Management LLC grew its holdings in Canaan by 139.7% during the 4th quarter. Millennium Management LLC now owns 2,808,545 shares of the company's stock worth $5,758,000 after acquiring an additional 1,637,019 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Canaan during the 4th quarter worth about $33,000. Victory Capital Management Inc. bought a new stake in Canaan during the 4th quarter worth about $598,000. Finally, Russell Investments Group Ltd. bought a new stake in Canaan during the 4th quarter worth about $856,000. 70.14% of the stock is owned by institutional investors.

Canaan declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

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.