Equities Analysts Issue Forecasts for Canaan FY2025 Earnings

Canaan Inc. (NASDAQ:CAN) – Stock analysts at B. Riley upped their FY2025 earnings per share estimates for Canaan in a research note issued to investors on Wednesday, December 18th. B. Riley analyst N. Giles now forecasts that the company will post earnings of $0.25 per share for the year, up from their previous forecast of $0.13. B. Riley currently 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.

Several other brokerages have also recently issued reports on CAN. Rosenblatt Securities raised their target price on Canaan from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Canaan in a research report on Thursday, November 21st.

Canaan Stock Performance

Shares of CAN opened at $2.25 on Monday. Canaan has a 12 month low of $0.72 and a 12 month high of $3.50. The business’s fifty day simple moving average is $1.80 and its two-hundred day simple moving average is $1.29. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.08. The company has a market cap of $633.56 million, a price-to-earnings ratio of -1.67 and a beta of 3.24.

Hedge Funds Weigh In On Canaan

A number of hedge funds have recently added to or reduced their stakes in CAN. Van ECK Associates Corp boosted its holdings in shares of Canaan by 55.4% in the 2nd quarter. Van ECK Associates Corp now owns 9,762,972 shares of the company’s stock valued at $9,761,000 after buying an additional 3,482,283 shares in the last quarter. State Street Corp increased its position in shares of Canaan by 0.3% during 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 in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of Canaan by 4.9% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 914,385 shares of the company’s stock valued at $924,000 after purchasing an additional 42,774 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Canaan in the 3rd quarter worth $556,000. Finally, Quadrature Capital Ltd grew its stake in Canaan by 329.4% during the 3rd quarter. Quadrature Capital Ltd now owns 544,976 shares of the company’s stock worth $550,000 after buying an additional 418,052 shares during the last quarter. 70.14% of the stock is currently owned by institutional investors.

Canaan Company Profile

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.