Canaan (NASDAQ:CAN) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Canaan (NASDAQ:CAN) released its earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01, Zacks reports. The firm had revenue of $21.17 million for the quarter, compared to the consensus estimate of $18.26 million. Canaan had a negative net margin of 77.01% and a negative return on equity of 92.49%. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Canaan updated its Q4 2025 guidance to EPS.

Canaan Price Performance

CAN stock opened at $1.03 on Wednesday. The stock has a market cap of $384.08 million, a PE ratio of -1.14 and a beta of 3.61. Canaan has a 12 month low of $0.53 and a 12 month high of $3.27. The company has a 50-day moving average price of $1.20 and a 200 day moving average price of $0.88. The company has a current ratio of 1.78, a quick ratio of 1.32 and a debt-to-equity ratio of 0.07.

Analysts Set New Price Targets

Several analysts have commented on the stock. Benchmark boosted their price target on shares of Canaan from $2.00 to $4.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Compass Point assumed coverage on Canaan in a report on Monday, September 15th. They issued a “buy” rating on the stock. B. Riley reiterated a “buy” rating on shares of Canaan in a research report on Wednesday, October 22nd. Zacks Research upgraded Canaan from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Finally, Wall Street Zen cut Canaan from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Canaan presently has a consensus rating of “Moderate Buy” and an average target price of $3.61.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Canaan stock. Goldman Sachs Group Inc. raised its holdings in shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN) by 52.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 587,451 shares of the company’s stock after purchasing an additional 200,869 shares during the quarter. Goldman Sachs Group Inc. owned 0.21% of Canaan worth $516,000 at the end of the most recent reporting period. Hedge funds and other 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.