Canaan Inc. (NASDAQ:CAN - Free Report) - Equities research analysts at B. Riley increased their FY2025 earnings per share (EPS) estimates for shares of Canaan in a research report issued on Wednesday, December 18th. B. Riley analyst N. Giles now forecasts that the company will post earnings of $0.25 per share for the year, up from their previous forecast of $0.13. B. Riley currently has a "Buy" rating and a $2.00 target price on the stock. The consensus estimate for Canaan's current full-year earnings is ($0.66) per share.
A number of other equities analysts also recently issued reports on the company. Rosenblatt Securities increased their price target on Canaan from $3.00 to $4.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. HC Wainwright reiterated a "buy" rating and set a $3.00 target price on shares of Canaan in a research report on Thursday, November 21st.
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Canaan Price Performance
Shares of NASDAQ:CAN traded down $0.26 during trading on Monday, reaching $2.06. 13,887,286 shares of the company's stock traded hands, compared to its average volume of 12,369,035. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.08. Canaan has a fifty-two week low of $0.72 and a fifty-two week high of $3.50. The company has a 50-day simple moving average of $1.76 and a 200-day simple moving average of $1.27. The firm has a market cap of $580.06 million, a PE ratio of -1.53 and a beta of 3.24.
Institutional Investors Weigh In On Canaan
Several institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its position in shares of Canaan by 55.4% in the second quarter. Van ECK Associates Corp now owns 9,762,972 shares of the company's stock valued at $9,761,000 after acquiring an additional 3,482,283 shares in the last quarter. State Street Corp lifted its holdings in Canaan by 0.3% in the 3rd quarter. State Street Corp now owns 9,111,069 shares of the company's stock valued at $9,202,000 after purchasing an additional 23,759 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in Canaan by 4.9% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 914,385 shares of the company's stock valued at $924,000 after purchasing an additional 42,774 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Canaan during the 3rd quarter worth $556,000. Finally, Quadrature Capital Ltd grew its holdings in shares of Canaan by 329.4% during the third quarter. Quadrature Capital Ltd now owns 544,976 shares of the company's stock worth $550,000 after buying an additional 418,052 shares in the last quarter. 70.14% of the stock is currently owned by institutional investors and hedge funds.
Canaan Company Profile
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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.
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