Canaan (CAN) to Release Quarterly Earnings on Tuesday

Canaan (NASDAQ:CAN) is expected 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 issued its earnings results on Wednesday, March 26th. The company reported ($2.17) earnings per share (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 during the quarter, compared to analysts’ expectations of $88.50 million. During the same period last year, the business posted ($2.16) earnings per share. On average, analysts expect Canaan to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Canaan Trading Up 4.2%

Shares of Canaan stock opened at $0.79 on Monday. Canaan has a 12-month low of $0.53 and a 12-month high of $3.27. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a market cap of $223.38 million, a PE ratio of -0.59 and a beta of 3.26. The company has a 50-day moving average of $0.82 and a two-hundred day moving average of $1.53.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CAN shares. Compass Point began coverage on shares of Canaan in a research note on Tuesday, March 18th. They set a “buy” rating and a $2.50 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 target price on shares of Canaan in a research note on Thursday, March 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $8.00 target price on shares of Canaan in a research note on Thursday. Finally, Benchmark began coverage on shares of Canaan in a research note on Tuesday, May 6th. They issued a “buy” rating and a $3.00 target price for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $3.70.

Hedge Funds Weigh In On Canaan

An institutional investor recently raised its position in Canaan stock. Goldman Sachs Group Inc. lifted its holdings in shares of Canaan Inc. (NASDAQ:CAN) by 52.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 587,451 shares of the company’s stock after buying an additional 200,869 shares during the period. Goldman Sachs Group Inc. owned approximately 0.21% of Canaan worth $516,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 70.14% of the company’s stock.

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.