Northland Securities Weighs in on Canaan FY2026 Earnings

Canaan Inc. Sponsored ADR (NASDAQ:CAN) – Investment analysts at Northland Securities issued their FY2026 earnings estimates for shares of Canaan in a research note issued to investors on Tuesday, February 10th. Northland Securities analyst M. Grondahl anticipates that the company will post earnings per share of ($0.30) for the year. The consensus estimate for Canaan’s current full-year earnings is ($0.74) per share.

Canaan (NASDAQ:CAN) last released its earnings results on Tuesday, February 10th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). Canaan had a negative return on equity of 60.70% and a negative net margin of 39.69%.The company had revenue of $196.27 million for the quarter, compared to analysts’ expectations of $25.30 million.

A number of other brokerages have also recently commented on CAN. B. Riley Financial lowered their price target on Canaan from $3.00 to $2.50 and set a “buy” rating for the company in a research report on Friday, November 21st. BTIG Research restated a “buy” rating and issued a $3.00 price objective on shares of Canaan in a research note on Wednesday. Rosenblatt Securities dropped their target price on Canaan from $4.00 to $2.50 and set a “buy” rating on the stock in a research report on Monday, February 9th. Benchmark reduced their price target on shares of Canaan from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wall Street Zen cut shares of Canaan from a “hold” rating to a “sell” rating in a research note on Saturday, January 17th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Canaan presently has an average rating of “Moderate Buy” and an average target price of $2.25.

Canaan Price Performance

Shares of CAN opened at $0.49 on Friday. The firm has a market capitalization of $182.72 million, a PE ratio of -1.02 and a beta of 2.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.31 and a quick ratio of 1.13. Canaan has a 1-year low of $0.47 and a 1-year high of $2.22. The company’s fifty day moving average price is $0.74 and its 200-day moving average price is $0.92.

Hedge Funds Weigh In On Canaan

Several institutional investors have recently made changes to their positions in CAN. SBI Securities Co. Ltd. boosted its holdings in Canaan by 155.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,698,885 shares of the company’s stock worth $1,172,000 after buying an additional 1,034,040 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Canaan by 135.5% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,350,460 shares of the company’s stock valued at $1,190,000 after buying an additional 777,019 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position 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 worth $516,000 after acquiring an additional 200,869 shares during the period. 70.14% of the stock is owned by hedge funds and other institutional investors.

Canaan announced that its board has initiated a stock repurchase program on Wednesday, December 17th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

About Canaan

Canaan Inc is a China-based technology company specializing in the design and manufacture of high-performance computing hardware for the digital currency and blockchain industry. The company’s core business revolves around application-specific integrated circuit (ASIC) miners, which are purpose-built machines optimized for cryptocurrency mining. By focusing on energy efficiency and processing power, Canaan’s mining rigs aim to deliver competitive hash rates while managing power consumption in large-scale operations.

The flagship product line, known as AvalonMiner, encompasses a range of models tailored to different scales of mining activity, from small-scale hobbyist setups to industrial farms.