Q1 Earnings Estimate for Canaan Issued By HC Wainwright

Canaan Inc. (NASDAQ:CAN) – Analysts at HC Wainwright issued their Q1 2025 earnings per share (EPS) estimates for Canaan in a research report issued on Thursday, March 27th. HC Wainwright analyst K. Dede anticipates that the company will post earnings per share of ($0.15) for the quarter. HC Wainwright currently has a “Buy” rating and a $3.00 target price 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.

A number of other brokerages have also issued reports on CAN. Rosenblatt Securities restated a “buy” rating and set a $8.00 target price on shares of Canaan in a research report on Thursday, March 27th. Compass Point assumed coverage on Canaan in a research report on Tuesday, March 18th. They set a “buy” rating and a $2.50 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.88.

Canaan Price Performance

NASDAQ:CAN opened at $0.87 on Monday. Canaan has a 52 week low of $0.72 and a 52 week high of $3.27. 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 firm’s 50-day simple moving average is $1.47 and its 200 day simple moving average is $1.60. The firm has a market cap of $244.19 million, a price-to-earnings ratio of -0.64 and a beta of 3.39.

Canaan (NASDAQ:CAN) last posted its quarterly earnings data 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). The firm had revenue of $88.77 million for the quarter, compared to the consensus estimate of $88.50 million. Canaan had a negative return on equity of 60.37% and a negative net margin of 128.85%. During the same quarter in the previous year, the business earned ($2.16) EPS.

Institutional Investors Weigh In On Canaan

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd raised its position in shares of Canaan by 329.4% in the 3rd quarter. Quadrature Capital Ltd now owns 544,976 shares of the company’s stock valued at $550,000 after buying an additional 418,052 shares in the last quarter. State Street Corp increased its stake in Canaan by 0.3% in the third quarter. State Street Corp now owns 9,111,069 shares of the company’s stock valued at $9,202,000 after acquiring an additional 23,759 shares during the last quarter. XTX Topco Ltd increased its stake in Canaan by 193.3% in the third quarter. XTX Topco Ltd now owns 232,525 shares of the company’s stock valued at $235,000 after acquiring an additional 153,255 shares during the last quarter. Virtu Financial LLC raised its position in Canaan by 35.2% during the third quarter. Virtu Financial LLC now owns 103,394 shares of the company’s stock valued at $104,000 after purchasing an additional 26,920 shares in the last quarter. Finally, Old Port Advisors bought a new stake in Canaan during the fourth quarter worth $100,000. Institutional investors own 70.14% of the company’s stock.

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.