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

Canaan Inc. (NASDAQ:CAN) – Investment analysts at B. Riley lifted their FY2025 earnings per share (EPS) estimates for shares of Canaan in a report released on Wednesday, December 18th. B. Riley analyst N. Giles now anticipates that the company will post earnings per share of $0.25 for the year, up from their previous estimate of $0.13. B. Riley has a “Buy” rating and a $2.00 price objective on the stock. The consensus estimate for Canaan’s current full-year earnings is ($0.66) per share.

CAN has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Canaan in a research note on Thursday, November 21st. Rosenblatt Securities raised their target price on Canaan from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Friday, December 6th.

Canaan Trading Up 9.2 %

Shares of NASDAQ:CAN opened at $2.25 on Monday. The company has a current ratio of 2.03, a quick ratio of 1.45 and a debt-to-equity ratio of 0.08. Canaan has a 12-month low of $0.72 and a 12-month high of $3.50. The business has a 50 day moving average of $1.80 and a two-hundred day moving average of $1.29. The company has a market capitalization of $633.56 million, a PE ratio of -1.67 and a beta of 3.24.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC purchased a new position in Canaan during the second quarter worth about $34,000. XTX Topco Ltd acquired a new position in shares of Canaan in the 2nd quarter valued at $79,000. Virtu Financial LLC increased its position in shares of Canaan by 35.2% during the 3rd quarter. Virtu Financial LLC now owns 103,394 shares of the company’s stock worth $104,000 after purchasing an additional 26,920 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Canaan by 38.6% in the third quarter. Farther Finance Advisors LLC now owns 109,409 shares of the company’s stock valued at $111,000 after buying an additional 30,447 shares during the last quarter. Finally, Impact Partnership Wealth LLC increased its position in shares of Canaan by 271.1% during the second quarter. Impact Partnership Wealth LLC now owns 125,990 shares of the company’s stock valued at $126,000 after acquiring an additional 92,038 shares during the last quarter. 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.