Research Analysts Issue Forecasts for Canaan FY2026 Earnings

Canaan Inc. (NASDAQ:CAN) – B. Riley increased their FY2026 earnings estimates for shares of Canaan in a report released on Wednesday, February 12th. B. Riley analyst N. Giles now anticipates that the company will post earnings of $0.61 per share for the year, up from their previous estimate of $0.51. The consensus estimate for Canaan’s current full-year earnings is ($0.74) per share.

CAN has been the topic of a number of other reports. Rosenblatt Securities raised their price target on shares of Canaan from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Canaan in a report on Wednesday, January 22nd.

Canaan Stock Performance

Shares of NASDAQ:CAN opened at $1.75 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.45 and a current ratio of 2.03. Canaan has a one year low of $0.72 and a one year high of $3.27. The business’s 50-day simple moving average is $2.18 and its 200 day simple moving average is $1.53. The company has a market cap of $492.77 million, a P/E ratio of -1.30 and a beta of 3.26.

Institutional Trading of Canaan

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new stake in Canaan in the 4th quarter valued at $5,343,000. Renaissance Technologies LLC bought a new position in shares of Canaan during the fourth quarter valued at $3,689,000. Exchange Traded Concepts LLC bought a new position in shares of Canaan during the fourth quarter valued at $2,807,000. Van ECK Associates Corp boosted its stake in shares of Canaan by 12.9% in the 4th quarter. Van ECK Associates Corp now owns 10,368,217 shares of the company’s stock valued at $21,255,000 after purchasing an additional 1,187,796 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Canaan in the 4th quarter worth about $2,318,000. 70.14% of the stock is currently owned by institutional investors and hedge funds.

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.