Canaan (CAN) to Release Quarterly Earnings on Tuesday

Canaan (NASDAQ:CAN) is anticipated to announce its Q1 2025 earnings results before the market opens on Tuesday, May 20th. Analysts expect the company to announce earnings of ($0.15) per share and revenue of $75.14 million for the quarter. Canaan has set its Q1 2025 guidance at EPS and its FY 2025 guidance at EPS.

Canaan (NASDAQ:CAN) last announced its quarterly earnings data on Wednesday, March 26th. The company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($1.29). Canaan had a negative net margin of 128.85% and a negative return on equity of 60.37%. The company had revenue of $88.77 million for the quarter, compared to analyst estimates of $88.50 million. During the same quarter last year, the company posted ($2.16) EPS. On average, analysts expect Canaan to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Canaan Price Performance

Shares of NASDAQ:CAN opened at $0.79 on Monday. Canaan has a one year low of $0.53 and a one year high of $3.27. The stock has a fifty day moving average of $0.82 and a 200-day moving average of $1.53. The company has a market capitalization of $223.38 million, a PE ratio of -0.59 and a beta of 3.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.45 and a current ratio of 2.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CAN shares. Compass Point started coverage on Canaan in a research report on Tuesday, March 18th. They set a “buy” rating and a $2.50 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and set a $8.00 price objective on shares of Canaan in a research report on Thursday. Benchmark started coverage on Canaan in a research report on Tuesday, May 6th. They set a “buy” rating and a $3.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Canaan in a research report on Thursday, March 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.70.

Institutional Trading of Canaan

A hedge fund recently raised its stake in Canaan stock. Goldman Sachs Group Inc. grew its holdings in Canaan Inc. (NASDAQ:CAN) by 52.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 587,451 shares of the company’s stock after purchasing an additional 200,869 shares during the period. Goldman Sachs Group Inc. owned approximately 0.21% of Canaan worth $516,000 as of its most recent SEC filing. 70.14% of the stock is currently owned by institutional investors and hedge funds.

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.