B. Riley Has Positive Outlook of Canaan FY2025 Earnings

Canaan Inc. (NASDAQ:CAN) – Investment analysts at B. Riley boosted their FY2025 earnings per share (EPS) estimates for Canaan in a research report issued to clients and investors 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 prior estimate of $0.13. B. Riley has a “Buy” rating and a $2.00 price target on the stock. The consensus estimate for Canaan’s current full-year earnings is ($0.66) per share.

CAN has been the subject of a number of other research reports. Rosenblatt Securities increased their target price 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 reiterated a “buy” rating and set a $3.00 price objective on shares of Canaan in a research note on Thursday, November 21st.

Canaan Stock Performance

Canaan stock opened at $2.32 on Monday. The company has a market cap of $653.27 million, a price-to-earnings ratio of -1.72 and a beta of 3.24. Canaan has a 12 month low of $0.72 and a 12 month high of $3.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.03 and a quick ratio of 1.45. The stock’s 50-day moving average is $1.76 and its 200-day moving average is $1.27.

Hedge Funds Weigh In On Canaan

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC purchased a new position in Canaan in the 2nd quarter valued at about $34,000. XTX Topco Ltd acquired a new stake in shares of Canaan during the second quarter worth approximately $79,000. Virtu Financial LLC increased its stake in shares of Canaan by 35.2% in the third quarter. Virtu Financial LLC now owns 103,394 shares of the company’s stock worth $104,000 after buying an additional 26,920 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Canaan by 38.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 109,409 shares of the company’s stock valued at $111,000 after acquiring an additional 30,447 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its holdings in Canaan by 271.1% during the 2nd quarter. Impact Partnership Wealth LLC now owns 125,990 shares of the company’s stock worth $126,000 after acquiring an additional 92,038 shares in the last quarter. Hedge funds and other institutional investors own 70.14% of the company’s stock.

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.