Canaan (CAN) Stock Price, News & Analysis

Company Overview

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. The company has operations in the United States, Australia, Kazakhstan, Hong Kong, Canada, Mainland China, Thailand, Sweden, and internationally. Canaan Inc. was founded in 2013 and is based in Singapore.

Key Stats

• Today's Range: $1.00 to $1.04
• 50-Day Range: $0.83 to $1.11
• 52-Week Range: $0.72 to $3.50
• Volume: 3.80 million shs
• Average Volume: 11.11 million shs
• Market Capitalization: $288.63 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $3.38
• Consensus Rating: Moderate Buy

Canaan Stock Analysis - MarketRank™

Canaan scored higher than 46% of companies evaluated by MarketBeat, and ranked 446th out of 664 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Canaan has received a consensus rating of Moderate Buy. The company's average rating score is 2.80, and is based on 4 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Canaan has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.3 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Canaan are expected to grow in the coming year, from ($0.60) to ($0.11) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Canaan is -0.50, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Canaan is -0.50, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

Canaan has a P/B Ratio of 0.69. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

8.55% of the outstanding shares of Canaan have been sold short.

Short Interest Ratio / Days to Cover

Canaan has a short interest ratio ("days to cover") of 4.6.

Change versus previous month

Short interest in Canaan has recently increased by 0.88%, indicating that investor sentiment is decreasing.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Canaan does not currently pay a dividend.

Dividend Growth

Canaan does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

8.55% of the outstanding shares of Canaan have been sold short.

Short Interest Ratio / Days to Cover

Canaan has a short interest ratio ("days to cover") of 4.6.

Change versus previous month

Short interest in Canaan has recently increased by 0.88%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 1.6 / 5
• News Sentiment: -0.08

News Sentiment

Canaan has a news sentiment score of -0.08. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.54 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 3 news articles for Canaan this week, compared to 5 articles on an average week.

Search Interest

13 people have searched for CAN on MarketBeat in the last 30 days. This is an increase of 44% compared to the previous 30 days.

MarketBeat Follows

Only 3 people have added Canaan to their MarketBeat watchlist in the last 30 days. This is a decrease of -40% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Canaan insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 0.29% of the stock of Canaan is held by insiders.

Percentage Held by Institutions

70.14% of the stock of Canaan is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CAN Stock Analysis - Frequently Asked Questions

How have CAN shares performed this year?

Canaan's stock was trading at $2.31 at the start of the year. Since then, CAN stock has decreased by 55.4% and is now trading at $1.03.
View the best growth stocks for 2024 here.

How were Canaan's earnings last quarter?

Canaan Inc. (NASDAQ:CAN) released its quarterly earnings data on Thursday, August, 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.15. The firm earned $71.86 million during the quarter, compared to the consensus estimate of $51.90 million. Canaan had a negative net margin of 158.65% and a negative trailing twelve-month return on equity of 59.66%.

Does Canaan have any subsidiaries?

Canaan subsidiaries include these companies: Proof of Existence, Canaan Bright Sight Co. Ltd., Canaan Convey Co. Ltd., Canaan Creative Co. Ltd., Canaan Creative (HK) Holdings Limited, Canaan Creative International PTE. Ltd., Canaan Creative (SH) Co. Ltd., and more.

When did Canaan IPO?

Canaan (CAN) raised $100 million in an IPO on Thursday, November 21st 2019. The company issued 10,000,000 shares at $9.00-$11.00 per share. Citigroup, China Renaissance and CMBI acted as the underwriters for the IPO and Galaxy Digital Advisors, Huatai Securities and Tiger Brokers were co-managers.

Who are Canaan's major shareholders?

Canaan's top institutional shareholders include SG Americas Securities LLC (0.72%).

How do I buy shares of Canaan?

Shares of CAN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Company Calendar

• Last Earnings: 8/15/2024
• Today: 10/05/2024
• Next Earnings (Estimated): 11/26/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Semiconductors & related devices
• Sub-Industry: Electronic Equipment
• Current Symbol: NASDAQ:CAN
• CUSIP: N/A
• CIK: 1780652
• Web: canaan-creative.com
• Phone: 86-010-6097-4080
• Fax: N/A
• Employees: 350
• Year Founded: 2013

Price Target and Rating

• Average Stock Price Target: $3.38
• High Stock Price Target: $5.50
• Low Stock Price Target: $2.00
• Potential Upside/Downside: +227.7%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.80
• Research Coverage: 5 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($2.05)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-414,150,000.00
• Net Margins: -158.65%
• Pretax Margin: -182.23%
• Return on Equity: -59.66%
• Return on Assets: -44.41%

Debt

• Debt-to-Equity Ratio: 0.06
• Current Ratio: 2.88
• Quick Ratio: 1.75

Sales & Book Value

• Annual Sales: $189.34 million
• Price / Sales: 1.52
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $1.49 per share
• Price / Book: 0.69

Miscellaneous

• Outstanding Shares: 280,222,000
• Free Float: 279,409,000
• Market Cap: $288.63 million
• Optionable: Optionable
• Beta: 3.08