NASDAQ:CAN

Canaan - CAN Stock Forecast, Price & News

$3.28

+0.02 (+0.61%)

(As of 09/30/2022 12:00 AM ET)

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Today's Range: $3.23
▼
$3.37
50-Day Range: $3.04
▼
$4.29
52-Week Range: $2.56
▼
$11.19

Volume: 821,686 shs
Average Volume: 1.11 million shs
Market Capitalization: $613.16 million

P/E Ratio: 1.36
Dividend Yield: N/A
Price Target: $8.00

Canaan MarketRank™ Forecast

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 143.9% Upside
$8.00 Price Target
Short Interest: Bearish
5.56% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.19
Based on 7 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: -0.90%
From $1.11 to $1.10 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.75 out of 5 stars

Computer And Technology Sector

563rd out of 652 stocks

Semiconductors & Related Devices Industry

80th out of 97 stocks

3.5

Analyst's Opinion

Consensus Rating
Canaan has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 3 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $8.00, Canaan has a forecasted upside of 143.9% from its current price of $3.28.
Amount of Analyst Coverage
Canaan has only been the subject of 1 research reports in the past 90 days.

1.0

Short Interest

Percentage of Shares Shorted
5.56% of the outstanding shares of Canaan have been sold short.
Short Interest Ratio / Days to Cover
Canaan has a short interest ratio ("days to cover") of 5.8.
Change versus previous month
Short interest in Canaan has recently increased by 11.59%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Canaan does not currently pay a dividend.
Dividend Growth
Canaan does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for CAN.

1.8

News and Social Media Coverage

News Sentiment
Canaan has a news sentiment score of 0.19. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.54 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for Canaan this week, compared to 2 articles on an average week.
Search Interest
Only 12 people have searched for CAN on MarketBeat in the last 30 days. This is a decrease of -52% compared to the previous 30 days.
MarketBeat Follows
Only 3 people have added Canaan to their MarketBeat watchlist in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Canaan insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.29% of the stock of Canaan is held by insiders.
Percentage Held by Institutions
Only 16.67% of the stock of Canaan is held by institutions.

1.3

Earnings and Valuation

Earnings Growth
Earnings for Canaan are expected to decrease by -0.90% in the coming year, from $1.11 to $1.10 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Canaan is 1.36, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 117.75.
Price to Earnings Ratio vs. Sector
The P/E ratio of Canaan is 1.36, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 355.82.
Price to Book Value per Share Ratio
Canaan has a P/B Ratio of 1.13. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Canaan (NASDAQ:CAN) Stock

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 primarily in the People's Republic of China. It is also involved in the assembly and distribution of mining equipment and spare parts. The company has a strategic cooperation with Northern Data AG in the areas of artificial intelligence development, blockchain technology, and datacenter operations. Canaan Inc. was founded in 2013 and is based in Beijing, the People's Republic of China.

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CAN Stock News Headlines

October 1, 2022 | americanbankingnews.com

Head to Head Contrast: Canaan (NASDAQ:CAN) & On Track Innovations (OTCMKTS:OTIVF)

September 29, 2022 | benzinga.com

Lowe's, Accenture And This Streaming Service Company Are CNBC's Final Trades - Canaan (NASDAQ:CAN), Lowe' - Benzinga

September 29, 2022 | nasdaq.com

Canaan Inc.'s (NASDAQ:CAN) Stock's On An Uptrend: Are Strong Financials Guiding The Market? - Nasdaq

September 25, 2022 | benzinga.com

Taylor Hospitality Launches New Inn at Canaan Website - Benzinga

September 23, 2022 | globenewswire.com

Taylor Hospitality Launches New Inn at Canaan Website - GlobeNewswire

September 23, 2022 | americanbankingnews.com

Comparing CMC Materials (NASDAQ:CCMP) & Canaan (NASDAQ:CAN)

September 16, 2022 | seekingalpha.com

Canaan: Bitcoin Ties Overcome Any Chip Growth Potential, For Now (NASDAQ:CAN) - Seeking Alpha

September 12, 2022 | greenwichtime.com

Drew Pyne named Notre Dame's starting quarterback. - Greenwich Time

September 4, 2022 | nytimes.com

Town After Town, Residents Are Fighting Affordable Housing in Connecticut - The New York Times

August 25, 2022 | msn.com

New Canaan police officer accused of animal cruelty set to face a judge

August 23, 2022 | msn.com

Inside a $14.9 million palatial estate in New Canaan, CT

August 22, 2022 | msn.com

Inside a $14.9 million palatial estate in New Canaan, CT - msnNOW

August 22, 2022 | cnbc.com

$14.9M palatial estate Connecticut priced to break local record - CNBC

August 19, 2022 | fool.com

Why Canaan Stock Crept Higher Today - The Motley Fool

August 18, 2022 | streetinsider.com

CryptoNewsBreaks – Canaan Inc. (NASDAQ: CAN) Announces Unaudited Q2 2022 Financial Results - StreetInsider.com

August 18, 2022 | finance.yahoo.com

Why Canaan Stock Crept Higher Today

August 18, 2022 | benzinga.com

Recap: Canaan Q2 Earnings - Benzinga

August 18, 2022 | msn.com

Recap: Canaan Q2 Earnings

August 18, 2022 | seekingalpha.com

Canaan Inc. (CAN) CEO Nangeng Zhang on Q2 2022 Results - Earnings Call Transcript

August 18, 2022 | nasdaq.com

Canaan Q2 Profit Rises; Revenues Up 52.8%

August 18, 2022 | finance.yahoo.com

Bitcoin Mining Hardware Firm Canaan Sees 'Prolonged Headwinds' After Challenging Quarter

August 18, 2022 | finance.yahoo.com

Canaan (CAN) Q2 Earnings Surpass Estimates

August 17, 2022 | seekingalpha.com

Canaan Q2 2022 Earnings Preview (NASDAQ:CAN) - Seeking Alpha

August 17, 2022 | benzinga.com

Canaan Earnings Preview - Benzinga

August 16, 2022 | 247wallst.com

Earnings Previews: Canaan, Kohl’s, NetEase, Tapestry - 24/7 Wall St.

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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CAN Company Calendar

Last Earnings: 8/18/2022
Today: 10/02/2022
Next Earnings (Estimated): 11/15/2022
Fiscal Year End: 12/31/2022

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Semiconductors & related devices
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NASDAQ:CAN
CUSIP: N/A
CIK: 1780652
Web: canaan-creative.com
Phone: 86-10-5874-1858
Fax: N/A
Employees: 2,020
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $8.00
High Stock Price Forecast: $10.00
Low Stock Price Forecast: $5.00
Forecasted Upside/Downside: +143.9%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 3 Analysts

Profitability

EPS (Most Recent Fiscal Year): $2.42
Trailing P/E Ratio: 1.36
Forward P/E Ratio: 2.95
P/E Growth: N/A
Net Income: $313.89 million
Net Margins: 41.75%
Pretax Margin: 48.75%
Return on Equity: 73.44%
Return on Assets: 48.61%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 3.85
Quick Ratio: 2.75

Sales & Book Value

Annual Sales: $782.52 million
Price / Sales: 0.78
Cash Flow: $1.54 per share
Price / Cash Flow: 2.13
Book Value: $2.90 per share
Price / Book: 1.13

Miscellaneous

Outstanding Shares: 186,940,000
Free Float: 186,401,000
Market Cap: $613.16 million
Optionable: Not Optionable
Beta: 3.67

Key Executives

Mr. Nangeng Zhang (Age 39)
Chairman & CEO

Mr. James Jin Cheng (Age 43)
Chief Financial Officer

Ms. Lu Meng (Age 39)
Sec. of the Board

Ms. Zhang Xi
Investor Relations Mang.

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

CAN Stock - Frequently Asked Questions

Should I buy or sell Canaan stock right now?: 3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Canaan in the last twelve months. There are currently 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" CAN shares.
View CAN analyst ratings or view top-rated stocks.
What is Canaan's stock price forecast for 2022?: 3 analysts have issued 1 year price targets for Canaan's stock. Their CAN share price forecasts range from $5.00 to $10.00. On average, they anticipate the company's share price to reach $8.00 in the next year. This suggests a possible upside of 143.9% from the stock's current price.
View analysts price targets for CAN or view top-rated stocks among Wall Street analysts.
How have CAN shares performed in 2022?: Canaan's stock was trading at $5.15 at the start of the year. Since then, CAN stock has decreased by 36.3% and is now trading at $3.28.
View the best growth stocks for 2022 here.
When is Canaan's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 15th 2022.
View our CAN earnings forecast.
How were Canaan's earnings last quarter?: Canaan Inc. (NASDAQ:CAN) announced its quarterly earnings data on Thursday, August, 18th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.20. The firm had revenue of $246.74 million for the quarter, compared to analyst estimates of $252.30 million. Canaan had a trailing twelve-month return on equity of 73.44% and a net margin of 41.75%.
What guidance has Canaan issued on next quarter's earnings?: Canaan updated its third quarter 2022 earnings guidance on Thursday, September, 15th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $134.40 million-$164.20 million.

When did Canaan IPO?: (CAN) raised $100 million in an IPO on Thursday, November 21st 2019. The company issued 10,000,000 shares at a price of $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.
What is Canaan's stock symbol?: Canaan trades on the NASDAQ under the ticker symbol "CAN."
How do I buy shares of Canaan?: 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.
Compare Top Brokerages Here.
What is Canaan's stock price today?: One share of CAN stock can currently be purchased for approximately $3.28.
How much money does Canaan make?: Canaan (NASDAQ:CAN) has a market capitalization of $613.16 million and generates $782.52 million in revenue each year. The company earns $313.89 million in net income (profit) each year or $2.42 on an earnings per share basis.
How many employees does Canaan have?: The company employs 2,020 workers across the globe.
How can I contact Canaan?: 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 86-10-5874-1858.

This page (NASDAQ:CAN) was last updated on 10/2/2022 by MarketBeat.com Staff

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Canaan - CAN Stock Forecast, Price & News

Canaan MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Canaan (NASDAQ:CAN) Stock

CAN Stock News Headlines

CAN Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders & Institutions

CAN Stock - Frequently Asked Questions

MarketBeat Resources

Premium Research Tools

Market Data and Calendars

Investing Education and Resources

Overall MarketRank^™