Canaan Inc. (NASDAQ:CAN - Free Report) - Analysts at B. Riley issued their FY2026 EPS estimates for Canaan in a report released on Wednesday, December 18th. B. Riley analyst N. Giles forecasts that the company will post earnings of $0.51 per share for the year. B. Riley has a "Buy" rating and a $2.00 price target on the stock. The consensus estimate for Canaan's current full-year earnings is ($0.66) per share.
A number of other research firms also recently issued reports on CAN. HC Wainwright restated a "buy" rating and set a $3.00 price objective on shares of Canaan in a report on Thursday, November 21st. Rosenblatt Securities raised their price target on shares of Canaan from $3.00 to $4.00 and gave the stock a "buy" rating in a research note on Friday, December 6th.
View Our Latest Analysis on Canaan
Canaan Stock Performance
Shares of Canaan stock traded up $0.01 during trading hours on Friday, hitting $2.32. 27,932,178 shares of the company's stock traded hands, compared to its average volume of 12,362,644. The company has a fifty day simple moving average of $1.73 and a 200-day simple moving average of $1.26. 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 stock has a market capitalization of $653.27 million, a price-to-earnings ratio of -1.72 and a beta of 3.24. Canaan has a 12-month low of $0.72 and a 12-month high of $3.50.
Institutional Investors Weigh In On Canaan
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd lifted its position 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 acquiring an additional 418,052 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Canaan during the 3rd quarter worth about $556,000. Van ECK Associates Corp lifted its holdings in Canaan by 55.4% during the 2nd quarter. Van ECK Associates Corp now owns 9,762,972 shares of the company's stock worth $9,761,000 after purchasing an additional 3,482,283 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Canaan by 20.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 215,372 shares of the company's stock worth $215,000 after purchasing an additional 36,422 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Canaan by 38.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 109,409 shares of the company's stock valued at $111,000 after buying an additional 30,447 shares in the last quarter. 70.14% of the stock is currently owned by institutional investors.
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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