Brokerages Set Canaan Inc. Sponsored ADR (NASDAQ:CAN) Price Target at $3.61

Shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.6071.

Several brokerages have weighed in on CAN. Northland Securities set a $1.75 target price on Canaan in a research note on Friday, October 3rd. Benchmark lifted their target price on Canaan from $2.00 to $4.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. BTIG Research reaffirmed a “buy” rating and set a $8.00 target price on shares of Canaan in a research note on Tuesday, October 14th. Rosenblatt Securities reaffirmed a “buy” rating and set a $4.00 target price on shares of Canaan in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Canaan in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Canaan

Hedge funds have recently modified their holdings of the company. GMT Capital Corp acquired a new position in shares of Canaan during the 1st quarter valued at $86,000. SBI Securities Co. Ltd. increased its position in shares of Canaan by 280.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 153,399 shares of the company’s stock valued at $135,000 after purchasing an additional 113,049 shares during the period. Virtu Financial LLC acquired a new position in shares of Canaan during the 1st quarter valued at $320,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Canaan in the 2nd quarter worth approximately $355,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Canaan by 52.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 587,451 shares of the company’s stock worth $516,000 after purchasing an additional 200,869 shares in the last quarter. 70.14% of the stock is currently owned by institutional investors and hedge funds.

Canaan Stock Down 9.5%

Shares of Canaan stock opened at $1.24 on Tuesday. The business’s fifty day moving average price is $1.10 and its two-hundred day moving average price is $0.85. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.78 and a quick ratio of 1.32. The company has a market capitalization of $462.40 million, a P/E ratio of -1.38 and a beta of 3.49. Canaan has a 1-year low of $0.53 and a 1-year high of $3.27.

Canaan (NASDAQ:CAN) last announced its earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. The firm had revenue of $13.95 million for the quarter, compared to the consensus estimate of $13.29 million. Canaan had a negative return on equity of 92.49% and a negative net margin of 77.01%. Canaan has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Canaan will post -0.74 EPS for the current year.

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.