Analysts expect that Canaan Inc. (NASDAQ:CAN – Get Rating) will announce $0.40 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Canaan’s earnings. Canaan posted earnings per share of $0.13 in the same quarter last year, which indicates a positive year-over-year growth rate of 207.7%. The company is scheduled to announce its next quarterly earnings report before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Canaan will report full-year earnings of $2.60 per share for the current financial year. For the next financial year, analysts expect that the firm will report earnings of $3.15 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Canaan.
Canaan (NASDAQ:CAN – Get Rating) last issued its quarterly earnings results on Thursday, March 3rd. The company reported $1.05 earnings per share (EPS) for the quarter. Canaan had a return on equity of 86.99% and a net margin of 38.44%. The firm had revenue of $342.80 million for the quarter.
NASDAQ:CAN traded up $0.22 during mid-day trading on Friday, reaching $3.08. The company’s stock had a trading volume of 4,108,909 shares, compared to its average volume of 4,514,433. The company’s fifty day simple moving average is $4.59 and its two-hundred day simple moving average is $5.68. Canaan has a twelve month low of $2.56 and a twelve month high of $11.50. The stock has a market cap of $487.10 million, a P/E ratio of 1.81 and a beta of 3.95.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAN. Vanguard Group Inc. raised its holdings in shares of Canaan by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 4,379,126 shares of the company’s stock valued at $23,779,000 after buying an additional 106,586 shares during the period. BlackRock Inc. raised its holdings in shares of Canaan by 2.7% during the 1st quarter. BlackRock Inc. now owns 1,785,967 shares of the company’s stock valued at $9,698,000 after buying an additional 46,679 shares during the period. Balyasny Asset Management LLC raised its holdings in shares of Canaan by 407.5% during the 3rd quarter. Balyasny Asset Management LLC now owns 1,706,212 shares of the company’s stock valued at $10,425,000 after buying an additional 1,370,026 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Canaan by 30.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,380,787 shares of the company’s stock valued at $7,498,000 after buying an additional 324,446 shares during the period. Finally, State Street Corp raised its holdings in shares of Canaan by 99.8% during the 4th quarter. State Street Corp now owns 1,306,506 shares of the company’s stock valued at $6,729,000 after buying an additional 652,685 shares during the period. 13.77% of the stock is currently owned by institutional investors and hedge funds.
About Canaan (Get Rating)
Canaan Inc engages in the research, design, and sale of integrated circuit (IC) final system 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 of system products; and supply chain and distribution of system products.
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