Canaan (NASDAQ:CAN) Now Covered by Compass Point

Compass Point began coverage on shares of Canaan (NASDAQ:CAN) in a report published on Monday. The brokerage issued a buy rating on the stock.

A number of other equities analysts have also recently weighed in on CAN. Wall Street Zen raised Canaan from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Zacks Research raised Canaan from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. Northland Securities initiated coverage on Canaan in a research note on Wednesday, June 18th. They set a “market perform” rating and a $1.50 target price on the stock. B. Riley lowered their target price on Canaan from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, July 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $4.00 target price on shares of Canaan in a research note on Friday. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2.50.

Canaan Trading Down 0.8%

Shares of CAN opened at $0.82 on Monday. The business’s 50-day moving average price is $0.75 and its 200 day moving average price is $0.77. The stock has a market capitalization of $305.03 million, a P/E ratio of -0.91 and a beta of 3.45. Canaan has a 1-year low of $0.53 and a 1-year high of $3.27. 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 (NASDAQ:CAN) last issued 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. The firm had revenue of $13.95 million for the quarter, compared to analysts’ expectations of $13.29 million. Canaan had a negative return on equity of 92.49% and a negative net margin of 77.01%. Canaan has set its Q3 2025 guidance at EPS. Analysts expect that Canaan will post -0.74 earnings per share for the current year.

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

Institutional Trading of Canaan

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new stake in shares of Canaan during the fourth quarter worth $92,000. Millennium Management LLC grew its holdings in shares of Canaan by 139.7% during the fourth quarter. Millennium Management LLC now owns 2,808,545 shares of the company’s stock worth $5,758,000 after purchasing an additional 1,637,019 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Canaan by 15.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,941,515 shares of the company’s stock worth $3,460,000 after purchasing an additional 525,772 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Canaan by 69.0% during the fourth quarter. Two Sigma Investments LP now owns 2,325,312 shares of the company’s stock worth $4,767,000 after purchasing an additional 949,244 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Canaan by 251.9% during the fourth quarter. Two Sigma Advisers LP now owns 1,365,700 shares of the company’s stock worth $2,800,000 after purchasing an additional 977,600 shares during the last quarter. Institutional investors own 70.14% of the company’s stock.

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.