FY2025 Earnings Estimate for Canaan Issued By HC Wainwright

Canaan Inc. (NASDAQ:CAN) – Analysts at HC Wainwright lifted their FY2025 earnings estimates for shares of Canaan in a research report issued on Wednesday, January 22nd. HC Wainwright analyst K. Dede now expects that the company will post earnings of ($0.15) per share for the year, up from their prior forecast of ($0.45). 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.

Separately, Rosenblatt Securities lifted their target price on Canaan from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, December 6th.

Canaan Stock Performance

Shares of Canaan stock opened at $2.12 on Friday. The stock has a market cap of $596.95 million, a price-to-earnings ratio of -1.57 and a beta of 3.27. Canaan has a twelve month low of $0.72 and a twelve month high of $3.27. The company’s fifty day moving average is $2.18 and its 200 day moving average is $1.44. The company has a quick ratio of 1.45, a current ratio of 2.03 and a debt-to-equity ratio of 0.08.

Institutional Investors Weigh In On Canaan

Several large investors have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in Canaan in the fourth quarter valued at approximately $2,807,000. Baader Bank Aktiengesellschaft increased its stake in shares of Canaan by 287.0% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 1,305,724 shares of the company’s stock valued at $2,677,000 after acquiring an additional 968,347 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Canaan during the third quarter worth $556,000. Quadrature Capital Ltd boosted its stake in Canaan by 329.4% during the third quarter. Quadrature Capital Ltd now owns 544,976 shares of the company’s stock worth $550,000 after acquiring an additional 418,052 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in Canaan by 193.3% in the third quarter. XTX Topco Ltd now owns 232,525 shares of the company’s stock worth $235,000 after purchasing an additional 153,255 shares during the period. 70.14% of the stock is currently owned by institutional investors and hedge funds.

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.