Should I buy or sell Canaan stock right now?

2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Canaan in the last year. There are currently 2 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 target for 2024?

2 brokerages have issued twelve-month price targets for Canaan's shares. Their CAN share price targets range from $3.00 to $5.50. On average, they predict the company's share price to reach $4.25 in the next year. This suggests a possible upside of 167.3% 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 2023?

Canaan's stock was trading at $2.06 on January 1st, 2023. Since then, CAN stock has decreased by 22.8% and is now trading at $1.59. View the best growth stocks for 2023 here .

When is Canaan's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 5th 2024. View our CAN earnings forecast .

What ETFs hold Canaan's stock?

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) .

(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 acted as the underwriters for the IPO and Galaxy Digital Advisors, Huatai Securities and Tiger Brokers were co-managers.

Who are Canaan's major shareholders?

Canaan's stock is owned by a number of institutional and retail investors. Top institutional investors include Invesco Ltd. (2.18%), Toroso Investments LLC (1.65%), Van ECK Associates Corp (1.40%), Exchange Traded Concepts LLC (1.09%), Mirae Asset Global Investments Co. Ltd. (0.61%) and American Century Companies Inc. (0.40%).

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 .

Does Canaan have any subsidiaries?

The following companies are subsidiares of Canaan: Canaan Bright Sight Co. Ltd., Canaan Convey Co. Ltd., Canaan Creative (HK) Holdings Limited, Canaan Creative (SH) Co. Ltd., Canaan Creative Co. Ltd., Canaan Creative International PTE. Ltd., Hangzhou Canaan Chuangxin Technology Co. Ltd., Hangzhou Canaan Intelligence Information Technology Co. Ltd., Langfang Creative Technology Co. Ltd., Proof of Existence, and Zhejiang Avalon Technology Co. Ltd.. Read More

Canaan Stock Price, News & Analysis (NASDAQ:CAN)

$1.59

+0.08 (+5.30%)

(As of 12/1/2023 ET)

Compare

Today's Range: $1.44
▼
$1.60
50-Day Range: $1.51
▼
$2.02
52-Week Range: $1.44
▼
$3.98

Volume: 10.60 million shs
Average Volume: 2.93 million shs
Market Capitalization: $270.36 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $4.25

Canaan MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 167.3% Upside
$4.25 Price Target
Short Interest: Bearish
7.26% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.10
Based on 22 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: N/A

Overall MarketRank^™

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

1.67 out of 5 stars

Computer And Technology Sector

448th out of 594 stocks

Semiconductors & Related Devices Industry

64th out of 83 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 2 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $4.25, Canaan has a forecasted upside of 167.3% from its current price of $1.59.
Amount of Analyst Coverage
Canaan has only been the subject of 2 research reports in the past 90 days.

1.0

Short Interest

Percentage of Shares Shorted
7.26% 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 5.7.
Change versus previous month
Short interest in Canaan has recently increased by 4.48%, indicating that investor sentiment is decreasing.

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.

2.3

News and Social Media Coverage

News Sentiment
Canaan has a news sentiment score of 0.10. 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 0.59 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 22 news articles for Canaan this week, compared to 4 articles on an average week.
Search Interest
15 people have searched for CAN on MarketBeat in the last 30 days. This is an increase of 150% compared to the previous 30 days.
MarketBeat Follows
Only 2 people have added Canaan to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% 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 17.37% of the stock of Canaan is held by institutions.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Canaan are expected to remain at ($1.95) per share in the coming year.
Price to Earnings Ratio vs. the Market
The P/E ratio of Canaan is -0.79, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Canaan is -0.79, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Canaan has a P/B Ratio of 0.74. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Canaan Stock (NASDAQ:CAN)

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. The company has operations in the United States, Australia, Kazakhstan, Hong Kong, Canada, Mainland China, Thailand, Sweden, and internationally. Canaan Inc. was founded in 2013 and is based in Singapore.

CAN Stock Price History

30 days | 90 days | 365 days | Advanced Chart

CAN Stock News Headlines

December 2, 2023 | americanbankingnews.com

HC Wainwright Comments on Canaan Inc.'s FY2023 Earnings (NASDAQ:CAN)

December 1, 2023 | msn.com

Ski season kicks off at resorts in Canaan Valley

December 3, 2023 | DTI Trader (Ad)

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December 1, 2023 | finance.yahoo.com

Canaan Inc. (NASDAQ:CAN) Q3 2023 Earnings Call Transcript

November 30, 2023 | sfgate.com

New Canaan Police Department moves to temporary home for 2 years during $29M station overhaul

November 30, 2023 | americanbankingnews.com

Canaan (NASDAQ:CAN) Stock Rating Reaffirmed by Benchmark

November 30, 2023 | americanbankingnews.com

HC Wainwright Cuts Canaan (NASDAQ:CAN) Price Target to $3.00

November 29, 2023 | markets.businessinsider.com

HC Wainwright & Co. Maintains Buy Rating for Canaan: Here's What You Need To Know

December 3, 2023 | DTI Trader (Ad)

All the trading advice you’ve ever received boils down to this

November 29, 2023 | sfgate.com

New Canaan schools want to leave decision up to parents if their 4-year-old is kindergarten ready

November 29, 2023 | finance.yahoo.com

Q3 2023 Canaan Inc Earnings Call

November 28, 2023 | msn.com

Canaan (CAN) Reports Q3 Loss, Tops Revenue Estimates

November 28, 2023 | sfgate.com

Canaan: Q3 Earnings Snapshot

November 28, 2023 | msn.com

Canaan GAAP EPADS of -$0.47 misses by $0.19, revenue of $33.3M beats by $3.01M

November 28, 2023 | finance.yahoo.com

Canaan Inc. Reports Unaudited Third Quarter 2023 Financial Results

November 27, 2023 | msn.com

Canaan Q3 2023 Earnings Preview

November 27, 2023 | markets.businessinsider.com

Canaan A earnings: here's what to expect

November 26, 2023 | americanbankingnews.com

Canaan (CAN) Scheduled to Post Quarterly Earnings on Tuesday

November 25, 2023 | msn.com

Isaiah Canaan’s career-high guides Olympiacos past Zalgiris

November 22, 2023 | chron.com

The Giving Fund: How you can help Greenwich, Stamford, Darien and New Canaan neighbors in need

November 21, 2023 | msn.com

NIA, New Canaan Energy partner for solar-powered irrigation

November 20, 2023 | msn.com

Israel's Mount Canaan breaks 73-year rain intensity record amid storms

November 20, 2023 | finance.yahoo.com

Canaan Inc. to Report Third Quarter 2023 Financial Results on November 28, 2023

November 18, 2023 | chron.com

Hand High School field hockey defeats New Canaan on OT goal by Jacqueline Kennedy for CIAC Class M title

November 18, 2023 | msn.com

Bobcat sightings on the rise in New Canaan

November 18, 2023 | chron.com

Kevin Moynihan on his biggest wins – and disappointments – as New Canaan's first selectman

November 13, 2023 | msn.com

Over two years later, Canaan Cemetery is restored, rededication takes place

See More Headlines

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Company Calendar

Today: 12/03/2023
Fiscal Year End: 12/31/2023
Next Earnings (Estimated): 3/05/2024

Get Stock Alerts

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: 86-010-6097-4080
Fax: N/A
Employees: 541
Year Founded: 2013

Price Target and Rating

Average Stock Price Target: $4.25
High Stock Price Target: $5.50
Low Stock Price Target: $3.00
Potential Upside/Downside: +167.3%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($2.01)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $70.51 million
Net Margins: -154.49%
Pretax Margin: -192.13%
Return on Equity: -69.41%
Return on Assets: -58.18%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 3.84
Quick Ratio: 1.45

Sales & Book Value

Annual Sales: $634.88 million
Price / Sales: 0.43
Cash Flow: $0.76 per share
Price / Cash Flow: 2.08
Book Value: $2.14 per share
Price / Book: 0.74

Miscellaneous

Outstanding Shares: 170,040,000
Free Float: 169,545,000
Market Cap: $270.36 million
Optionable: Not Optionable
Beta: 2.98

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Key Executives

Mr. Nangeng Zhang (Age 40)
Chairman & CEO
Mr. James Jin Cheng (Age 44)
Chief Financial Officer
Mr. Clark S. Soucy
Investor Relations Director
Ms. Lu Meng (Age 40)
Secretary of the Board
Ms. Zhang Xi
Investor Relations Manager

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

CAN Stock Analysis - Frequently Asked Questions

Should I buy or sell Canaan stock right now?: 2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Canaan in the last year. There are currently 2 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 target for 2024?: 2 brokerages have issued twelve-month price targets for Canaan's shares. Their CAN share price targets range from $3.00 to $5.50. On average, they predict the company's share price to reach $4.25 in the next year. This suggests a possible upside of 167.3% 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 2023?: Canaan's stock was trading at $2.06 on January 1st, 2023. Since then, CAN stock has decreased by 22.8% and is now trading at $1.59.
View the best growth stocks for 2023 here.
When is Canaan's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 5th 2024.
View our CAN earnings forecast.
What ETFs hold Canaan's stock?: 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).

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 acted as the underwriters for the IPO and Galaxy Digital Advisors, Huatai Securities and Tiger Brokers were co-managers.
Who are Canaan's major shareholders?: Canaan's stock is owned by a number of institutional and retail investors. Top institutional investors include Invesco Ltd. (2.18%), Toroso Investments LLC (1.65%), Van ECK Associates Corp (1.40%), Exchange Traded Concepts LLC (1.09%), Mirae Asset Global Investments Co. Ltd. (0.61%) and American Century Companies Inc. (0.40%).
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.
Does Canaan have any subsidiaries?: The following companies are subsidiares of Canaan: Canaan Bright Sight Co. Ltd., Canaan Convey Co. Ltd., Canaan Creative (HK) Holdings Limited, Canaan Creative (SH) Co. Ltd., Canaan Creative Co. Ltd., Canaan Creative International PTE. Ltd., Hangzhou Canaan Chuangxin Technology Co. Ltd., Hangzhou Canaan Intelligence Information Technology Co. Ltd., Langfang Creative Technology Co. Ltd., Proof of Existence, and Zhejiang Avalon Technology Co. Ltd..
Read More

This page (NASDAQ:CAN) was last updated on 12/3/2023 by MarketBeat.com Staff

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