Investors Buy Large Volume of Call Options on Canaan (NASDAQ:CAN)

Canaan Inc. Sponsored ADR (NASDAQ:CAN) was the recipient of some unusual options trading on Tuesday. Stock traders bought 35,103 call options on the company. This represents an increase of approximately 258% compared to the typical daily volume of 9,798 call options.

Institutional Trading of Canaan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GMT Capital Corp bought a new position in shares of Canaan in the first quarter valued at approximately $86,000. SBI Securities Co. Ltd. grew its holdings in shares of Canaan by 32.1% in the second quarter. SBI Securities Co. Ltd. now owns 202,605 shares of the company’s stock valued at $125,000 after acquiring an additional 49,206 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Canaan in the first quarter valued at approximately $320,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Canaan in the second quarter valued at approximately $355,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Canaan by 52.0% in the first quarter. Goldman Sachs Group Inc. now owns 587,451 shares of the company’s stock valued at $516,000 after acquiring an additional 200,869 shares in the last quarter. 70.14% of the stock is owned by institutional investors.

Canaan Stock Performance

Shares of CAN opened at $1.80 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.32 and a current ratio of 1.78. The stock has a 50 day moving average price of $0.87 and a two-hundred day moving average price of $0.77. The firm has a market capitalization of $671.22 million, a P/E ratio of -2.00 and a beta of 3.49. Canaan has a 52 week low of $0.53 and a 52 week high of $3.27.

Canaan (NASDAQ:CAN) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $13.95 million during the quarter, compared to analyst estimates 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. Equities analysts forecast that Canaan will post -0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BTIG Research reissued a “buy” rating and issued a $8.00 price objective on shares of Canaan in a research note on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $4.00 price target on shares of Canaan in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Canaan in a research note on Wednesday, October 8th. Zacks Research raised Canaan from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, B. Riley dropped their price target on Canaan from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, July 10th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3.32.

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.