Q1 Earnings Forecast for Canaan Issued By HC Wainwright

Canaan Inc. (NASDAQ:CAN - Free Report) - HC Wainwright issued their Q1 2025 earnings estimates for Canaan in a research note issued to investors on Thursday, March 27th. HC Wainwright analyst K. Dede anticipates that the company will earn ($0.15) per share for the quarter. HC Wainwright has a "Buy" rating and a $3.00 price target on the stock. The consensus estimate for Canaan's current full-year earnings is ($0.74) per share. HC Wainwright also issued estimates for Canaan's Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at $0.00 EPS, Q4 2025 earnings at $0.15 EPS and FY2025 earnings at $0.00 EPS.

Several other analysts also recently commented on the stock. Rosenblatt Securities restated a "buy" rating and set a $8.00 target price on shares of Canaan in a report on Thursday, March 27th. Compass Point began coverage on shares of Canaan in a report on Tuesday, March 18th. They set a "buy" rating and a $2.50 price objective on the stock. 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 MarketBeat.com, Canaan currently has a consensus rating of "Moderate Buy" and an average target price of $3.88.

Canaan Trading Down 7.2 %

CAN stock traded down $0.06 during midday trading on Monday, hitting $0.76. 14,955,486 shares of the company's stock were exchanged, compared to its average volume of 11,492,012. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.45 and a current ratio of 2.03. The stock's fifty day moving average price is $1.39 and its 200-day moving average price is $1.59. Canaan has a one year low of $0.72 and a one year high of $3.27. The company has a market cap of $214.40 million, a PE ratio of -0.56 and a beta of 3.39.

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Canaan (NASDAQ:CAN - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($1.29). Canaan had a negative return on equity of 60.37% and a negative net margin of 128.85%. The firm had revenue of $88.77 million during the quarter, compared to analyst estimates of $88.50 million. During the same quarter last year, the business posted ($2.16) earnings per share.

Hedge Funds Weigh In On Canaan

Several hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC bought a new stake in shares of Canaan in the fourth quarter worth $32,000. Raymond James Financial Inc. bought a new stake in Canaan during the 4th quarter worth about $33,000. Wellington Management Group LLP bought a new stake in Canaan during the 4th quarter worth about $48,000. State Street Corp boosted its stake in shares of Canaan by 0.3% during the 3rd quarter. State Street Corp now owns 9,111,069 shares of the company's stock worth $9,202,000 after buying an additional 23,759 shares during the last quarter. Finally, Virtu Financial LLC grew its holdings in shares of Canaan by 35.2% in the 3rd quarter. Virtu Financial LLC now owns 103,394 shares of the company's stock valued at $104,000 after acquiring an additional 26,920 shares in the last quarter. 70.14% of the stock is owned by institutional investors.

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.