FY2025 Earnings Estimate for Canaan Issued By HC Wainwright

Canaan Inc. (NASDAQ:CAN) – Stock analysts at HC Wainwright upped their FY2025 earnings per share (EPS) estimates for Canaan in a report released on Wednesday, January 22nd. HC Wainwright analyst K. Dede now expects that the company will post earnings of ($0.15) per share for the year, up from their prior forecast of ($0.45). 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.

Separately, Rosenblatt Securities lifted their price objective on Canaan from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Friday, December 6th.

Canaan Stock Performance

NASDAQ CAN opened at $2.09 on Friday. Canaan has a fifty-two week low of $0.72 and a fifty-two week high of $3.27. The stock has a market cap of $588.50 million, a price-to-earnings ratio of -1.55 and a beta of 3.27. The business has a fifty day moving average of $2.19 and a 200-day moving average of $1.45. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.08.

Institutional Investors Weigh In On Canaan

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in Canaan by 0.3% during 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 period. Virtu Financial LLC grew 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 acquiring an additional 26,920 shares during the period. Farther Finance Advisors LLC grew its position in Canaan by 38.6% during the third quarter. Farther Finance Advisors LLC now owns 109,409 shares of the company’s stock valued at $111,000 after acquiring an additional 30,447 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in Canaan during the second quarter valued at about $34,000. Finally, Commonwealth Equity Services LLC grew its position in Canaan by 20.4% during the second quarter. Commonwealth Equity Services LLC now owns 215,372 shares of the company’s stock valued at $215,000 after acquiring an additional 36,422 shares during the 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.