Shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $1.75.
CAN has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and set a $0.75 target price on shares of Canaan in a research note on Tuesday, September 15th. Weiss Ratings downgraded Canaan from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 16th. JonesTrading upgraded Canaan to a “strong-buy” rating in a research note on Saturday, September 26th. Zacks Research downgraded Canaan from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Finally, B. Riley Financial decreased their price objective on shares of Canaan from $2.00 to $1.50 and set a “buy” rating for the company in a report on Thursday, October 1st.
Check Out Our Latest Research Report on CAN
Institutional Trading of Canaan
A hedge fund recently bought a new position in Canaan stock. SG Americas Securities LLC acquired a new stake in shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN – Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 100,000 shares of the company’s stock, valued at approximately $43,000. Institutional investors and hedge funds own 70.14% of the company’s stock.
Canaan Price Performance
Shares of Canaan stock opened at $0.21 on Tuesday. The business has a 50-day moving average price of $0.32 and a 200 day moving average price of $0.42. Canaan has a twelve month low of $0.15 and a twelve month high of $1.84. The firm has a market cap of $151.48 million, a PE ratio of -0.48 and a beta of 2.63. The company has a quick ratio of 1.67, a current ratio of 2.86 and a debt-to-equity ratio of 0.12.
Canaan (NASDAQ:CAN – Get Free Report) last released its quarterly earnings data on Saturday, August 15th. The company reported ($0.14) EPS for the quarter. The business had revenue of $31.86 million during the quarter. Canaan had a negative net margin of 67.78% and a negative return on equity of 77.73%. Sell-side analysts predict that Canaan will post -0.39 earnings per share for the current fiscal year.
About Canaan
Canaan Inc is a technology company that develops application-specific integrated circuit (ASIC) products and related computing solutions. The company is best known for its Avalon series of Bitcoin mining machines, which are designed to perform the specialized computations required to validate transactions and support blockchain networks.
In addition to cryptocurrency-mining equipment, Canaan develops high-performance computing hardware and artificial intelligence (AI) solutions. Its product portfolio has included AI accelerator chips, edge-computing devices and related software or systems intended for applications such as intelligent transportation, security, robotics and other data-intensive technologies.
Founded in 2013, Canaan is headquartered in China and serves customers and business partners in international markets.
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