Canaan Inc. Sponsored ADR (NASDAQ:CAN) Receives $3.68 Consensus PT from Analysts

Shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN) have received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $3.6786.

Several research analysts have recently weighed in on the stock. Northland Securities set a $1.75 target price on shares of Canaan in a research report on Friday, October 3rd. Benchmark raised their price objective on shares of Canaan from $2.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen raised shares of Canaan from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. B. Riley decreased their target price on Canaan from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Friday, November 21st. Finally, Compass Point assumed coverage on Canaan in a report on Monday, September 15th. They set a “buy” rating on the stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Canaan in the second quarter worth $355,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Canaan by 15.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,941,515 shares of the company’s stock valued at $3,460,000 after purchasing an additional 525,772 shares during the last quarter. Invesco Ltd. grew its stake in Canaan by 5,016.8% in the first quarter. Invesco Ltd. now owns 7,235,144 shares of the company’s stock valued at $6,351,000 after purchasing an additional 7,093,743 shares in the last quarter. GMT Capital Corp acquired a new position in Canaan in the 1st quarter worth about $86,000. Finally, Virtu Financial LLC purchased a new stake in shares of Canaan during the 1st quarter worth about $320,000. Institutional investors and hedge funds own 70.14% of the company’s stock.

Canaan Price Performance

Shares of NASDAQ:CAN traded up $0.10 on Friday, reaching $1.02. 20,206,627 shares of the company traded hands, compared to its average volume of 33,988,116. The stock has a market capitalization of $378.49 million, a PE ratio of -1.49 and a beta of 3.61. The company’s 50 day moving average is $1.23 and its 200-day moving average is $0.90. Canaan has a fifty-two week low of $0.53 and a fifty-two week high of $3.27.

Canaan (NASDAQ:CAN) last issued its earnings results on Tuesday, November 18th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Canaan had a negative return on equity of 71.85% and a negative net margin of 51.66%.The business had revenue of $21.17 million for the quarter, compared to analysts’ expectations of $18.26 million. During the same period in the previous year, the firm posted ($0.01) EPS. Canaan has set its Q4 2025 guidance at EPS. As a group, analysts expect that Canaan will post -0.74 EPS for the current year.

About Canaan

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.