Canaan (CAN) Stock Forecast, Price & News

1 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Canaan in the last year. There are currently 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" CAN shares.
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1 analysts have issued twelve-month target prices for Canaan's stock. Their CAN share price forecasts range from $4.00 to $4.00. On average, they expect the company's stock price to reach $4.00 in the next twelve months. This suggests a possible upside of 119.8% from the stock's current price.
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Canaan's stock was trading at $2.06 at the beginning of the year. Since then, CAN shares have decreased by 11.7% and is now trading at $1.82.
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Canaan saw a increase in short interest in the month of September. As of September 15th, there was short interest totaling 12,100,000 shares, an increase of 15.1% from the August 31st total of 10,510,000 shares. Based on an average daily trading volume, of 2,760,000 shares, the days-to-cover ratio is presently 4.4 days.
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The company is scheduled to release its next quarterly earnings announcement on Monday, November 13th 2023.
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Canaan Inc. (NASDAQ:CAN) posted its quarterly earnings results on Tuesday, August, 29th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.15) by $0.50. The business earned $73.85 million during the quarter, compared to analyst estimates of $66.60 million. Canaan had a negative net margin of 77.30% and a negative trailing twelve-month return on equity of 43.95%.

ETFs with the largest weight of Canaan (NASDAQ:CAN) stock in their portfolio include VanEck Digital Assets Mining ETF (DAM), Bitwise Crypto Industry Innovators ETF (BITQ), Invesco Alerian Galaxy Crypto Economy ETF (SATO), VanEck Digital Transformation ETF (DAPP), Grayscale Future of Finance ETF (GFOF), Global X Blockchain ETF (BKCH), iShares Blockchain and Tech ETF (IBLC) and Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC).

Canaan updated its third quarter 2023 earnings guidance on Tuesday, August, 29th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $30.00 million-$30.00 million, compared to the consensus revenue estimate of $115.25 million.

(CAN) raised $100 million in an IPO on Thursday, November 21st 2019. The company issued 10,000,000 shares at $9.00-$11.00 per share. Citigroup, China Renaissance and CMBI served as the underwriters for the IPO and Galaxy Digital Advisors, Huatai Securities and Tiger Brokers were co-managers.

Canaan trades on the NASDAQ under the ticker symbol "CAN."

Shares of CAN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CAN stock can currently be purchased for approximately $1.82.

Canaan (NASDAQ:CAN) has a market capitalization of $309.47 million and generates $634.88 million in revenue each year. The company earns $70.51 million in net income (profit) each year or ($1.49) on an earnings per share basis.

The company employs 541 workers across the globe.

Canaan's mailing address is 30/F DICARA SILVER TOWER 29 JIEFANG EAST ROAD JIANGGAN DISTRICT, HANGZHOU F4, 310016. The official website for the company is canaan-creative.com. The company can be reached via phone at 86-010-6097-4080.