Invesco Ltd. Acquires 7,093,743 Shares of Canaan Inc. Sponsored ADR $CAN

Invesco Ltd. boosted its holdings in shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN) by 5,016.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,235,144 shares of the company’s stock after acquiring an additional 7,093,743 shares during the quarter. Invesco Ltd. owned approximately 2.57% of Canaan worth $6,351,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAN. JPMorgan Chase & Co. bought a new position in Canaan during the fourth quarter valued at approximately $402,000. Raymond James Financial Inc. bought a new position in shares of Canaan in the fourth quarter valued at approximately $33,000. BNP Paribas Financial Markets bought a new position in shares of Canaan in the fourth quarter valued at approximately $92,000. Bank of America Corp DE raised its position in shares of Canaan by 27,909.6% in the fourth quarter. Bank of America Corp DE now owns 339,756 shares of the company’s stock valued at $696,000 after purchasing an additional 338,543 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of Canaan in the fourth quarter valued at approximately $296,000. Institutional investors own 70.14% of the company’s stock.

Canaan Trading Up 1.5%

Shares of Canaan stock opened at $0.75 on Wednesday. The company’s fifty day simple moving average is $0.72 and its 200-day simple moving average is $0.86. The company has a market cap of $280.16 million, a price-to-earnings ratio of -0.83 and a beta of 3.25. The company has a current ratio of 1.78, a quick ratio of 1.32 and a debt-to-equity ratio of 0.07. Canaan Inc. Sponsored ADR has a 1 year low of $0.53 and a 1 year high of $3.27.

Canaan (NASDAQ:CAN) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. Canaan had a negative net margin of 77.01% and a negative return on equity of 92.49%. The firm 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. As a group, sell-side analysts expect that Canaan Inc. Sponsored ADR will post -0.74 EPS for the current year.

Canaan announced that its board has authorized a share buyback program on Tuesday, May 27th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CAN has been the topic of a number of recent analyst reports. Northland Capmk raised shares of Canaan to a “hold” rating in a research report on Wednesday, June 18th. Rosenblatt Securities dropped their price target on shares of Canaan from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Northland Securities initiated coverage on shares of Canaan in a research report on Wednesday, June 18th. They issued a “market perform” rating and a $1.50 price target on the stock. Zacks Research raised shares of Canaan from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen raised shares of Canaan from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2.50.

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.