Canaan (NASDAQ:CAN – Get Free Report) is scheduled to be announcing its earnings results before the market opens on Tuesday, November 28th. Analysts expect the company to announce earnings of ($0.30) per share for the quarter. Canaan has set its Q3 2023 guidance at EPS.
Canaan (NASDAQ:CAN – Get Free Report) last announced its quarterly earnings results on Tuesday, August 29th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.50). Canaan had a negative net margin of 77.30% and a negative return on equity of 43.95%. The business had revenue of $73.85 million for the quarter, compared to the consensus estimate of $66.60 million. On average, analysts expect Canaan to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.
Canaan Price Performance
Shares of Canaan stock traded down $0.07 during trading on Tuesday, hitting $1.63. 398,848 shares of the company’s stock traded hands, compared to its average volume of 2,431,806. Canaan has a 1 year low of $1.52 and a 1 year high of $3.98. The business has a 50-day simple moving average of $1.81 and a 200-day simple moving average of $2.18. The stock has a market capitalization of $276.31 million, a P/E ratio of -1.10 and a beta of 3.25.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Separately, HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Canaan in a report on Wednesday, August 30th.
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.
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