What is HC Wainwright’s Forecast for Canaan FY2025 Earnings?

Canaan Inc. (NASDAQ:CAN) – Analysts at HC Wainwright issued their FY2025 earnings estimates for shares of Canaan in a research report issued to clients and investors on Wednesday, May 21st. HC Wainwright analyst K. Dede expects that the company will post earnings per share of ($0.15) for the year. HC Wainwright has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for Canaan’s current full-year earnings is ($0.74) per share.

Several other research firms also recently weighed in on CAN. Compass Point began coverage on Canaan in a research report on Tuesday, March 18th. They set a “buy” rating and a $2.50 target price for the company. Rosenblatt Securities decreased their target price on Canaan from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Benchmark decreased their price objective on Canaan from $3.00 to $2.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Canaan currently has a consensus rating of “Moderate Buy” and an average price target of $2.90.

Canaan Stock Down 9.4%

NASDAQ:CAN opened at $0.63 on Friday. Canaan has a twelve month low of $0.53 and a twelve month high of $3.27. The company has a market cap of $178.41 million, a price-to-earnings ratio of -0.47 and a beta of 3.26. The stock has a fifty day simple moving average of $0.78 and a 200-day simple moving average of $1.50. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.08.

Canaan (NASDAQ:CAN) last posted its earnings results on Wednesday, March 26th. The company reported ($2.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($1.29). The business had revenue of $88.77 million during the quarter, compared to analysts’ expectations of $88.50 million. Canaan had a negative net margin of 128.85% and a negative return on equity of 60.37%. During the same period last year, the business posted ($2.16) earnings per share.

Institutional Trading of Canaan

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Canaan by 12.9% in the fourth quarter. Van ECK Associates Corp now owns 10,368,217 shares of the company’s stock valued at $21,255,000 after acquiring an additional 1,187,796 shares in the last quarter. Vanguard Group Inc. grew its stake in Canaan by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 8,760,909 shares of the company’s stock valued at $17,960,000 after purchasing an additional 223,241 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 during the last quarter. Tidal Investments LLC purchased a new position in Canaan in the fourth quarter valued at about $9,584,000. Finally, Vident Advisory LLC grew its stake in Canaan by 2,306.4% in the fourth quarter. Vident Advisory LLC now owns 4,311,718 shares of the company’s stock valued at $8,839,000 after purchasing an additional 4,132,539 shares during the last quarter. 70.14% of the stock is currently owned by institutional investors.

Canaan Company Profile

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.