Northland Capmk Issues Positive Estimate for Canaan Earnings

Canaan Inc. Sponsored ADR (NASDAQ:CAN) – Investment analysts at Northland Capmk upped their FY2025 earnings per share estimates for shares of Canaan in a research report issued to clients and investors on Monday, August 18th. Northland Capmk analyst M. Grondahl now expects that the company will post earnings of ($0.45) per share for the year, up from their prior forecast of ($0.75). Northland Capmk currently has a “Hold” rating on the stock. The consensus estimate for Canaan’s current full-year earnings is ($0.74) per share.

Canaan (NASDAQ:CAN) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. Canaan had a negative return on equity of 92.49% and a negative net margin of 77.01%.The business had revenue of $13.95 million for the quarter, compared to the consensus estimate of $13.29 million. Canaan has set its Q3 2025 guidance at EPS.

A number of other research analysts also recently weighed in on CAN. Benchmark lowered their price target on Canaan from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, May 21st. Rosenblatt Securities lowered their price target on Canaan from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 15th. Northland Securities began coverage on Canaan in a report on Wednesday, June 18th. They set a “market perform” rating and a $1.50 price target on the stock. B. Riley lowered their price target on Canaan from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded Canaan from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2.50.

Canaan Stock Performance

Shares of CAN stock opened at $0.66 on Thursday. Canaan has a 1-year low of $0.5347 and a 1-year high of $3.27. The company has a current ratio of 1.78, a quick ratio of 1.11 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $246.11 million, a price-to-earnings ratio of -0.73 and a beta of 3.25. The stock’s fifty day simple moving average is $0.72 and its 200-day simple moving average is $0.89.

Canaan announced that its Board of Directors has authorized a share repurchase program on Tuesday, May 27th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Canaan

A number of institutional investors have recently bought and sold shares of CAN. Invesco Ltd. boosted its position in Canaan by 5,016.8% during 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 acquired a new stake in Canaan during the fourth quarter valued at $9,584,000. Vident Advisory LLC lifted its position in shares of Canaan by 2,306.4% in the fourth quarter. Vident Advisory LLC now owns 4,311,718 shares of the company’s stock worth $8,839,000 after buying an additional 4,132,539 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Canaan in the fourth quarter worth about $5,343,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Canaan in the fourth quarter worth about $3,689,000. Institutional investors and hedge funds own 70.14% of the company’s stock.

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.