B. Riley Estimates Canaan’s FY2025 Earnings (NASDAQ:CAN)

Canaan Inc. (NASDAQ:CAN) – B. Riley decreased their FY2025 earnings per share estimates for Canaan in a report released on Wednesday, February 12th. B. Riley analyst N. Giles now forecasts that the company will post earnings of $0.24 per share for the year, down from their prior forecast of $0.25. 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. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Canaan in a research report on Wednesday, January 22nd. Rosenblatt Securities increased 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 NASDAQ:CAN opened at $1.79 on Friday. The business’s fifty day moving average price is $2.15 and its two-hundred day moving average price is $1.53. Canaan has a fifty-two week low of $0.72 and a fifty-two week high of $3.27. The stock has a market capitalization of $504.03 million, a price-to-earnings ratio of -1.33 and a beta of 3.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.03 and a quick ratio of 1.45.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Canaan in the fourth quarter valued at approximately $1,043,000. Hood River Capital Management LLC acquired a new position in Canaan in the 4th quarter valued at $1,973,000. Marshall Wace LLP bought a new position in shares of Canaan in the 4th quarter valued at $5,343,000. PEAK6 LLC bought a new position in shares of Canaan in the 4th quarter valued at $92,000. Finally, Walleye Capital LLC bought a new position in shares of Canaan in the 4th quarter valued at $430,000. 70.14% of the stock is currently owned by institutional investors.

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.