Canaan Inc. (NASDAQ:CAN - Free Report) - Analysts at B. Riley reduced their FY2025 EPS estimates for shares of Canaan in a research note issued to investors on Wednesday, February 12th. B. Riley analyst N. Giles now expects that the company will post earnings of $0.24 per share for the year, down from their prior forecast of $0.25. The consensus estimate for Canaan's current full-year earnings is ($0.74) per share.
CAN has been the topic of a number of other research reports. Rosenblatt Securities upped their target price on shares of Canaan from $3.00 to $4.00 and gave the company a "buy" rating in a research note on Friday, December 6th. HC Wainwright reissued a "buy" rating and issued a $3.00 target price on shares of Canaan in a research note on Wednesday, January 22nd.
Check Out Our Latest Analysis on Canaan
Canaan Stock Performance
Shares of CAN traded down $0.04 during trading hours on Friday, reaching $1.75. 7,182,495 shares of the company traded hands, compared to its average volume of 15,905,482. The stock's fifty day moving average is $2.11 and its 200 day moving average is $1.55. The stock has a market cap of $492.77 million, a P/E ratio of -1.30 and a beta of 3.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.45 and a current ratio of 2.03. Canaan has a 1-year low of $0.72 and a 1-year high of $3.27.
Hedge Funds Weigh In On Canaan
Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in Canaan by 38.6% in the third quarter. Farther Finance Advisors LLC now owns 109,409 shares of the company's stock worth $111,000 after purchasing an additional 30,447 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Canaan in the third quarter worth $556,000. Prime Capital Investment Advisors LLC raised its holdings in Canaan by 4.9% in the third quarter. Prime Capital Investment Advisors LLC now owns 914,385 shares of the company's stock worth $924,000 after purchasing an additional 42,774 shares during the period. Quadrature Capital Ltd raised its holdings in Canaan by 329.4% in the third quarter. Quadrature Capital Ltd now owns 544,976 shares of the company's stock worth $550,000 after purchasing an additional 418,052 shares during the period. Finally, State Street Corp raised its holdings in Canaan by 0.3% in the third quarter. State Street Corp now owns 9,111,069 shares of the company's stock worth $9,202,000 after purchasing an additional 23,759 shares during the period. 70.14% of the stock is currently owned by institutional investors and hedge funds.
About Canaan
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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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