Canaan (NASDAQ:CAN) Issues Quarterly Earnings Results

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

Canaan Price Performance

CAN opened at $1.03 on Wednesday. Canaan has a 1 year low of $0.53 and a 1 year high of $3.27. The company’s 50 day simple moving average is $1.20 and its 200 day simple moving average is $0.88. The stock has a market capitalization of $384.08 million, a PE ratio of -1.14 and a beta of 3.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.32 and a current ratio of 1.78.

Analyst Ratings Changes

A number of research analysts have issued reports on CAN shares. B. Riley reiterated a “buy” rating on shares of Canaan in a research report on Wednesday, October 22nd. Northland Securities set a $1.75 price objective on Canaan in a research note on Friday, October 3rd. BTIG Research reaffirmed a “buy” rating and set a $8.00 price objective on shares of Canaan in a report on Tuesday, October 14th. Zacks Research raised Canaan from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. Finally, Benchmark raised their price target on Canaan from $2.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Six investment 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 a consensus price target of $3.61.

Hedge Funds Weigh In On Canaan

An institutional investor recently raised its position in Canaan stock. Goldman Sachs Group Inc. grew its position in shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN) by 52.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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.

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.