Should I buy or sell Canaan stock right now?

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Canaan in the last twelve months. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research 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 Wall Street analysts have issued 1 year target prices for Canaan's stock. Their CAN share price targets range from $3.00 to $5.50. On average, they anticipate the company's stock price to reach $4.25 in the next year. This suggests a possible upside of 465.5% 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 2024?

Canaan's stock was trading at $2.31 on January 1st, 2024. Since then, CAN shares have decreased by 67.5% and is now trading at $0.7516. View the best growth stocks for 2024 here .

Are investors shorting Canaan?

Canaan saw a increase in short interest during the month of March. As of March 31st, there was short interest totaling 26,870,000 shares, an increase of 15.8% from the March 15th total of 23,200,000 shares. Based on an average daily trading volume, of 18,120,000 shares, the days-to-cover ratio is currently 1.5 days. View Canaan's Short Interest .

When is Canaan's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Friday, May 24th 2024. View our CAN earnings forecast .

How were Canaan's earnings last quarter?

Canaan Inc. (NASDAQ:CAN) announced its quarterly earnings data on Tuesday, February, 27th. The company reported ($0.35) EPS for the quarter, meeting analysts' consensus estimates of ($0.35). The firm earned $49.07 million during the quarter, compared to analyst estimates of $33.90 million. Canaan had a negative trailing twelve-month return on equity of 80.13% and a negative net margin of 195.84%.

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) , Grayscale Future of Finance ETF (GFOF) , VanEck Digital Transformation ETF (DAPP) , Invesco Alerian Galaxy Crypto Economy ETF (SATO) , Bitwise Crypto Industry Innovators ETF (BITQ) , iShares Blockchain and Tech ETF (IBLC) , Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC) and Global X Blockchain ETF (BKCH) .

What guidance has Canaan issued on next quarter's earnings?

Canaan issued an update on its first quarter 2024 earnings guidance on Tuesday, February, 27th. The company provided EPS guidance of for the period. The company issued revenue guidance of $33.0 million-$33.0 million, compared to the consensus revenue estimate of $43.1 million.

Canaan (CAN) raised $100 million in an initial public offering (IPO) on Thursday, November 21st 2019. The company issued 10,000,000 shares at $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 variety of institutional and retail investors. Top institutional investors include IMC Chicago LLC (0.00%).

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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. 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

NASDAQ:CAN

Canaan (CAN) Stock Price, News & Analysis

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Free CAN Stock Alerts

$0.75

-0.17 (-18.43%)

(As of 04/19/2024 ET)

Compare

Today's Range: $0.75
▼
$0.98
50-Day Range: $0.92
▼
$2.31
52-Week Range: $0.75
▼
$3.50

Volume: 19.19 million shs
Average Volume: 17.66 million shs
Market Capitalization: $175.64 million

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

Get Canaan alerts:

Canaan MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 465.5% Upside
$4.25 Price Target
Short Interest: Bearish
11.51% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.54
Based on 18 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: N/A

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

1.95 out of 5 stars

Computer And Technology Sector

435th out of 582 stocks

Semiconductors & Related Devices Industry

71st out of 88 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.
Amount of Analyst Coverage
Canaan has received no research coverage in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
11.51% 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 1.5, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Canaan has recently increased by 15.82%, indicating that investor sentiment is decreasing significantly.

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.

2.5

News and Social Media Coverage

News Sentiment
Canaan has a news sentiment score of 0.54. 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 news sentiment score is similar to the average news sentiment of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 18 news articles for Canaan this week, compared to 5 articles on an average week.
Search Interest
22 people have searched for CAN on MarketBeat in the last 30 days. This is an increase of 29% compared to the previous 30 days.
MarketBeat Follows
Only 13 people have added Canaan to their MarketBeat watchlist in the last 30 days. This is a decrease of -13% compared to the previous 30 days.

1.7

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
70.14% of the stock of Canaan is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Price to Earnings Ratio vs. the Market
The P/E ratio of Canaan is -0.31, 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 -0.31, 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 0.50. 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

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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

April 19, 2024 | finanznachrichten.de

Canaan Inc.: Canaan Makes Statement Regarding Shelf Registration Submission

April 19, 2024 | prnewswire.com

Canaan Makes Statement Regarding Shelf Registration Submission

April 19, 2024 | Behind the Markets (Ad)

Tiny Biotech Stock Wins $75 Billion Patent

A little-known biotech has been quietly working on revolutionary treatments for neurodegenerative diseases. Most people have never heard of them... but those in the know have been taking notice. Jeff Bezos cut them a check for $130 million. Fidelity Biosciences for a further $217 million. They've even had several collaborative partnerships with much larger companies like Biogen, Sanofi, and Takeda.

April 19, 2024 | finanznachrichten.de

Canaan Inc.: Canaan Shines at Blockchain Life 2024 in Dubai

April 19, 2024 | americanbankingnews.com

Canaan Target of Unusually Large Options Trading (NASDAQ:CAN)

April 18, 2024 | prnewswire.com

Canaan Shines at Blockchain Life 2024 in Dubai

April 18, 2024 | benzinga.com

Bitcoin-Linked Canaan Stock Is Tumbling Thursday: What's Going On?

April 18, 2024 | investorplace.com

Why Is Canaan (CAN) Stock Down 21% Today?

April 19, 2024 | Behind the Markets (Ad)

Tiny Biotech Stock Wins $75 Billion Patent

April 17, 2024 | prnewswire.com

Canaan Inc. Files 2023 Annual Report on Form 20-F

April 17, 2024 | bizjournals.com

Peninsula VC adds more than $100 million, brings on former Pfizer exec as partner

April 17, 2024 | nj.com

No. 8 Seton Hall Prep falls to New Canaan (CT) - Boys lacrosse recap

April 17, 2024 | finance.yahoo.com

Canaan hires Pfizer executive, reels in $100M for biotech investing

April 17, 2024 | finance.yahoo.com

Canaan Adds Accomplished Executive and Scientist, Uwe Schoenbeck, Ph.D., Along with New Capital, to Bolster its Biopharma Investment Efforts

April 13, 2024 | msn.com

Bartlesville pizza scene gets a sweet addition with Lollipops Woodfire and Grocery

April 13, 2024 | greenwichtime.com

The Dish: Zach Allen at New Canaan fundraiser; Memorial taking place for beloved Greenwich coach

April 11, 2024 | msn.com

Richland County Baseball Scoreboard: Whippets win a walk-off, Plymouth and Lucas also win

April 10, 2024 | msn.com

Judge to consider double jeopardy claim in Michelle Troconis case, denies acquittal and new trial

April 10, 2024 | msn.com

Gestalt: Steam & Cinder - Official Release Date Trailer | Triple-I Initiative Showcase

April 9, 2024 | msn.com

Boys lacrosse rankings: A string of losses by top programs has already prompted a shakeup

April 9, 2024 | msn.com

3 Escape New Canaan House Fire

April 7, 2024 | msn.com

Michelle Troconis, convicted of conspiracy in Jennifer Dulos murder, was "fooled" by boyfriend, says sister

April 6, 2024 | msn.com

The evidence presented at Michelle Troconis' murder conspiracy trial

April 4, 2024 | msn.com

Potent Nor'easter Knocks Out Power, Causes Flooding, Delayed School Starts, Road Closures

April 3, 2024 | msn.com

Fallen tree and wires results in closure of NY-22 near Canaan

April 3, 2024 | msn.com

Cancer biotech firm Alterome Therapeutics raises $132 million in Goldman Sachs-led round

April 1, 2024 | msn.com

Keep up with everything that's happening between the lines in the Lower Hudson Valley

See More Headlines

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Company Calendar

Last Earnings: 2/27/2024
Today: 4/19/2024
Next Earnings (Estimated): 5/24/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Computer and Technology
Industry: Semiconductors & related devices
Sub-Industry: N/A
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: +380.1%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($2.40)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-414,150,000.00
Net Margins: -195.84%
Pretax Margin: -220.12%
Return on Equity: -80.13%
Return on Assets: -63.43%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 2.69
Quick Ratio: 1.64

Sales & Book Value

Annual Sales: $211.48 million
Price / Sales: 0.98
Cash Flow: $0.58 per share
Price / Cash Flow: 1.53
Book Value: $1.49 per share
Price / Book: 0.59

Miscellaneous

Outstanding Shares: 233,500,000
Free Float: 232,823,000
Market Cap: $206.69 million
Optionable: Optionable
Beta: 3.01

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Key Executives

Mr. Nangeng Zhang (Age 41)
Chairman & CEO
Mr. James Jin Cheng (Age 45)
Chief Financial Officer
Mr. Clark S. Soucy
Investor Relations Director
Ms. Lu Meng (Age 41)
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 equities research analysts have issued "buy," "hold," and "sell" ratings for Canaan in the last twelve months. There are currently 2 buy ratings for the stock. The consensus among Wall Street equities research 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 Wall Street analysts have issued 1 year target prices for Canaan's stock. Their CAN share price targets range from $3.00 to $5.50. On average, they anticipate the company's stock price to reach $4.25 in the next year. This suggests a possible upside of 465.5% 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 2024?: Canaan's stock was trading at $2.31 on January 1st, 2024. Since then, CAN shares have decreased by 67.5% and is now trading at $0.7516.
View the best growth stocks for 2024 here.
Are investors shorting Canaan?: Canaan saw a increase in short interest during the month of March. As of March 31st, there was short interest totaling 26,870,000 shares, an increase of 15.8% from the March 15th total of 23,200,000 shares. Based on an average daily trading volume, of 18,120,000 shares, the days-to-cover ratio is currently 1.5 days.
View Canaan's Short Interest.
When is Canaan's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Friday, May 24th 2024.
View our CAN earnings forecast.
How were Canaan's earnings last quarter?: Canaan Inc. (NASDAQ:CAN) announced its quarterly earnings data on Tuesday, February, 27th. The company reported ($0.35) EPS for the quarter, meeting analysts' consensus estimates of ($0.35). The firm earned $49.07 million during the quarter, compared to analyst estimates of $33.90 million. Canaan had a negative trailing twelve-month return on equity of 80.13% and a negative net margin of 195.84%.

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), Grayscale Future of Finance ETF (GFOF), VanEck Digital Transformation ETF (DAPP), Invesco Alerian Galaxy Crypto Economy ETF (SATO), Bitwise Crypto Industry Innovators ETF (BITQ), iShares Blockchain and Tech ETF (IBLC), Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC) and Global X Blockchain ETF (BKCH).
What guidance has Canaan issued on next quarter's earnings?: Canaan issued an update on its first quarter 2024 earnings guidance on Tuesday, February, 27th. The company provided EPS guidance of for the period. The company issued revenue guidance of $33.0 million-$33.0 million, compared to the consensus revenue estimate of $43.1 million.
When did Canaan IPO?: Canaan (CAN) raised $100 million in an initial public offering (IPO) on Thursday, November 21st 2019. The company issued 10,000,000 shares at $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 variety of institutional and retail investors. Top institutional investors include IMC Chicago LLC (0.00%).
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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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 4/19/2024 by MarketBeat.com Staff

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