Canaan (NASDAQ:CAN) Posts Earnings Results, Misses Estimates By $1.29 EPS

Canaan (NASDAQ:CAN - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($2.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.88) by ($1.29), RTT News reports. The business had revenue of $88.77 million for the quarter, compared to analysts' expectations of $88.50 million. Canaan had a negative return on equity of 60.37% and a negative net margin of 128.85%. During the same period last year, the firm earned ($2.16) earnings per share. Canaan updated its Q1 2025 guidance to EPS and its FY 2025 guidance to EPS.

Canaan Stock Performance

Shares of CAN stock traded down $0.04 during trading hours on Monday, hitting $0.87. The stock had a trading volume of 6,744,675 shares, compared to its average volume of 11,331,514. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.03 and a quick ratio of 1.45. The firm has a market capitalization of $244.13 million, a PE ratio of -0.64 and a beta of 3.39. The stock's 50 day moving average is $1.52 and its 200 day moving average is $1.60. Canaan has a twelve month low of $0.72 and a twelve month high of $3.27.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CAN shares. HC Wainwright restated a "buy" rating and set a $3.00 target price on shares of Canaan in a research note on Thursday. Compass Point initiated coverage on shares of Canaan in a research report on Tuesday, March 18th. They set a "buy" rating and a $2.50 price objective for the company. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $8.00 target price on shares of Canaan in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $3.88.

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About Canaan

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.