Canaan Sees Unusually High Options Volume (NASDAQ:CAN)

Canaan Inc. Sponsored ADR (NASDAQ:CAN) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 29,607 call options on the stock. This represents an increase of 52% compared to the average daily volume of 19,489 call options.

Analyst Ratings Changes

A number of research analysts recently issued reports on CAN shares. Rosenblatt Securities reiterated a “buy” rating and set a $4.00 price objective on shares of Canaan in a research note on Wednesday, October 29th. Compass Point started coverage on shares of Canaan in a research report on Monday, September 15th. They issued a “buy” rating for the company. Zacks Research upgraded shares of Canaan from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. BTIG Research reaffirmed a “buy” rating and issued a $8.00 target price on shares of Canaan in a report on Tuesday, October 14th. Finally, Wall Street Zen lowered Canaan from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Canaan has an average rating of “Moderate Buy” and a consensus price target of $3.61.

Institutional Trading of Canaan

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. grew its stake in Canaan by 280.2% in the first quarter. SBI Securities Co. Ltd. now owns 153,399 shares of the company’s stock valued at $135,000 after purchasing an additional 113,049 shares during the last quarter. Baader Bank Aktiengesellschaft grew its stake in shares of Canaan by 82.6% during the first quarter. Baader Bank Aktiengesellschaft now owns 2,384,261 shares of the company’s stock worth $2,089,000 after acquiring an additional 1,078,537 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Canaan by 53.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 763,259 shares of the company’s stock worth $670,000 after acquiring an additional 267,322 shares during the last quarter. Invesco Ltd. grew its stake in shares of Canaan by 5,016.8% during the first quarter. Invesco Ltd. now owns 7,235,144 shares of the company’s stock worth $6,351,000 after acquiring an additional 7,093,743 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Canaan during the first quarter worth about $320,000. Hedge funds and other institutional investors own 70.14% of the company’s stock.

Canaan Trading Down 13.5%

Shares of NASDAQ:CAN traded down $0.18 during trading on Tuesday, reaching $1.13. The company’s stock had a trading volume of 41,563,339 shares, compared to its average volume of 34,676,848. The stock has a market capitalization of $419.51 million, a PE ratio of -1.25 and a beta of 3.49. Canaan has a 12 month low of $0.53 and a 12 month high of $3.27. The company has a current ratio of 1.78, a quick ratio of 1.32 and a debt-to-equity ratio of 0.07. The firm’s 50 day simple moving average is $1.13 and its two-hundred day simple moving average is $0.86.

Canaan (NASDAQ:CAN) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.10. Canaan had a negative return on equity of 92.49% and a negative net margin of 77.01%.The company had revenue of $13.95 million for the quarter, compared to analyst estimates of $13.29 million. Canaan has set its Q3 2025 guidance at EPS. On average, research analysts predict that Canaan will post -0.74 EPS for the current fiscal year.

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.