Equities Analysts Offer Predictions for Canaan Q2 Earnings

Canaan Inc. Sponsored ADR (NASDAQ:CAN) – Research analysts at Northland Securities issued their Q2 2026 earnings estimates for shares of Canaan in a note issued to investors on Wednesday, May 20th. Northland Securities analyst M. Grondahl expects that the company will post earnings per share of ($0.15) for the quarter. The consensus estimate for Canaan’s current full-year earnings is ($0.20) per share. Northland Securities also issued estimates for Canaan’s Q3 2026 earnings at ($0.15) EPS and Q4 2026 earnings at ($0.15) EPS.

Several other research firms have also issued reports on CAN. BTIG Research restated a “buy” rating and issued a $3.00 target price on shares of Canaan in a report on Tuesday. Rosenblatt Securities reduced their price objective on shares of Canaan from $2.25 to $1.30 and set a “buy” rating on the stock in a research report on Wednesday. Benchmark decreased their price objective on shares of Canaan from $4.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Wall Street Zen upgraded Canaan to a “sell” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings downgraded Canaan from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Canaan currently has an average rating of “Moderate Buy” and an average price target of $2.01.

Canaan Price Performance

NASDAQ:CAN opened at $0.41 on Friday. The firm has a market capitalization of $295.79 million, a price-to-earnings ratio of -1.21 and a beta of 2.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.34 and a quick ratio of 1.93. The business has a 50 day simple moving average of $0.48 and a 200-day simple moving average of $0.67. Canaan has a 1 year low of $0.39 and a 1 year high of $2.22.

Canaan (NASDAQ:CAN) last issued its quarterly earnings data on Tuesday, May 19th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). Canaan had a negative return on equity of 55.84% and a negative net margin of 41.71%.The company had revenue of $62.69 million for the quarter, compared to the consensus estimate of $9.50 million. During the same period in the previous year, the firm earned ($0.02) earnings per share.

Institutional Trading of Canaan

Several institutional investors and hedge funds have recently modified their holdings of CAN. SG Americas Securities LLC purchased a new stake in shares of Canaan in the first quarter valued at approximately $43,000. Virtu Financial LLC purchased a new stake in shares of Canaan in the 4th quarter worth $46,000. Goldman Sachs Group Inc. grew its position in shares of Canaan by 52.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 587,451 shares of the company’s stock worth $516,000 after buying an additional 200,869 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of Canaan by 228.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 664,845 shares of the company’s stock worth $586,000 after buying an additional 462,240 shares in the last quarter. Institutional investors own 70.14% of the company’s stock.

About Canaan

Canaan Inc is a China-based technology company specializing in the design and manufacture of high-performance computing hardware for the digital currency and blockchain industry. The company’s core business revolves around application-specific integrated circuit (ASIC) miners, which are purpose-built machines optimized for cryptocurrency mining. By focusing on energy efficiency and processing power, Canaan’s mining rigs aim to deliver competitive hash rates while managing power consumption in large-scale operations.

The flagship product line, known as AvalonMiner, encompasses a range of models tailored to different scales of mining activity, from small-scale hobbyist setups to industrial farms.