HC Wainwright Forecasts Canaan’s Q1 Earnings (NASDAQ:CAN)

Canaan Inc. (NASDAQ:CAN) – HC Wainwright issued their Q1 2025 earnings per share estimates for Canaan in a research report issued on Thursday, March 27th. HC Wainwright analyst K. Dede forecasts that the company will post earnings of ($0.15) per share for the quarter. HC Wainwright has a “Buy” rating and a $3.00 price objective on the stock. The consensus estimate for Canaan’s current full-year earnings is ($0.74) per share. HC Wainwright also issued estimates for Canaan’s Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at $0.00 EPS, Q4 2025 earnings at $0.15 EPS and FY2025 earnings at $0.00 EPS.

Canaan (NASDAQ:CAN) last released its earnings results on Wednesday, March 26th. The company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($1.29). The firm had revenue of $88.77 million for the quarter, compared to the consensus estimate of $88.50 million. Canaan had a negative return on equity of 60.37% and a negative net margin of 128.85%. During the same quarter in the previous year, the business posted ($2.16) EPS.

CAN has been the topic of a number of other reports. Compass Point initiated coverage on Canaan in a report on Tuesday, March 18th. They set a “buy” rating and a $2.50 price target on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $8.00 price target on shares of Canaan in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3.88.

Canaan Stock Down 3.6 %

CAN opened at $0.88 on Monday. The stock has a market cap of $247.17 million, a price-to-earnings ratio of -0.65 and a beta of 3.39. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.45 and a current ratio of 2.03. The firm’s fifty day moving average is $1.50 and its 200 day moving average is $1.60. Canaan has a fifty-two week low of $0.72 and a fifty-two week high of $3.27.

Institutional Trading of Canaan

Large investors have recently made changes to their positions in the business. Tidal Investments LLC purchased a new position in Canaan in the fourth quarter worth about $9,584,000. Vident Advisory LLC boosted its holdings in shares of Canaan by 2,306.4% in the 4th quarter. Vident Advisory LLC now owns 4,311,718 shares of the company’s stock worth $8,839,000 after purchasing an additional 4,132,539 shares during the period. Marshall Wace LLP bought a new position in shares of Canaan during the 4th quarter valued at approximately $5,343,000. Renaissance Technologies LLC purchased a new stake in Canaan during the 4th quarter valued at $3,689,000. Finally, Millennium Management LLC raised its holdings in Canaan by 139.7% during the 4th quarter. Millennium Management LLC now owns 2,808,545 shares of the company’s stock valued at $5,758,000 after buying an additional 1,637,019 shares during the period. 70.14% of the stock is currently owned by institutional investors.

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.