Canaan - CAN Stock Forecast, Price & News

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Canaan in the last year. There are currently 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" CAN shares.
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3 brokerages have issued 1-year price targets for Canaan's stock. Their CAN share price forecasts range from $4.00 to $10.00. On average, they anticipate the company's share price to reach $7.67 in the next year. This suggests a possible upside of 191.5% from the stock's current price.
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Canaan's stock was trading at $5.15 at the start of the year. Since then, CAN shares have decreased by 48.9% and is now trading at $2.63.
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Canaan saw a increase in short interest during the month of November. As of November 15th, there was short interest totaling 9,010,000 shares, an increase of 8.6% from the October 31st total of 8,300,000 shares. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is presently 6.2 days. Currently, 6.1% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, March 2nd 2023.
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Canaan issued an update on its fourth quarter 2022 earnings guidance on Monday, November, 14th. The company provided EPS guidance of for the period. The company issued revenue guidance of $43.60 million-$43.60 million.

(CAN) raised $100 million in an initial public offering 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.

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

Canaan's stock is owned by many different institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (3.42%), BlackRock Inc. (1.36%), Toroso Investments LLC (1.12%), State Street Corp (0.68%), Exchange Traded Concepts LLC (0.50%) and Van ECK Associates Corp (0.41%).

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 $2.63.

Canaan (NASDAQ:CAN) has a market capitalization of $451.05 million and generates $782.52 million in revenue each year. The company earns $313.89 million in net income (profit) each year or $2.06 on an earnings per share basis.

The company employs 2,020 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 86-10-5874-1858.