Northland Securities Comments on Canaan FY2026 Earnings

Canaan Inc. Sponsored ADR (NASDAQ:CAN) – Stock analysts at Northland Securities issued their FY2026 earnings per share (EPS) estimates for shares of Canaan in a research note issued to investors on Tuesday, February 10th. Northland Securities analyst M. Grondahl anticipates that the company will earn ($0.30) per share for the year. The consensus estimate for Canaan’s current full-year earnings is ($0.74) per share.

Other research analysts also recently issued reports about the stock. BTIG Research reissued a “buy” rating and set a $3.00 price objective on shares of Canaan in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $1.50 price target on shares of Canaan in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Canaan in a research note on Wednesday, January 21st. Rosenblatt Securities decreased their price objective on Canaan from $4.00 to $2.50 and set a “buy” rating for the company in a research report on Monday, February 9th. Finally, B. Riley Financial dropped their target price on Canaan from $3.00 to $2.50 and set a “buy” rating on the stock in a report on Friday, November 21st. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2.25.

Canaan Stock Performance

Shares of CAN opened at $0.49 on Friday. The company’s 50 day simple moving average is $0.74 and its 200-day simple moving average is $0.92. Canaan has a 12-month low of $0.47 and a 12-month high of $2.22. The firm has a market cap of $182.72 million, a PE ratio of -1.02 and a beta of 2.85. The company has a current ratio of 3.31, a quick ratio of 1.13 and a debt-to-equity ratio of 0.06.

Canaan (NASDAQ:CAN) last posted its earnings results on Tuesday, February 10th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.07). The business had revenue of $196.27 million for the quarter, compared to analysts’ expectations of $25.30 million. Canaan had a negative return on equity of 60.70% and a negative net margin of 39.69%.

Canaan declared that its board has approved a share repurchase program on Wednesday, December 17th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Canaan

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in Canaan by 52.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 587,451 shares of the company’s stock valued at $516,000 after purchasing an additional 200,869 shares during the period. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Canaan in the second quarter worth $355,000. Finally, SBI Securities Co. Ltd. increased its stake in shares of Canaan by 32.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 202,605 shares of the company’s stock worth $125,000 after purchasing an additional 49,206 shares during the last quarter. 70.14% of the stock is currently owned by hedge funds and other institutional investors.

Canaan Company Profile

Canaan Inc is a China-based technology company specializing in the design and manufacture of high-performance computing hardware for the digital currency and blockchain industry. The company’s core business revolves around application-specific integrated circuit (ASIC) miners, which are purpose-built machines optimized for cryptocurrency mining. By focusing on energy efficiency and processing power, Canaan’s mining rigs aim to deliver competitive hash rates while managing power consumption in large-scale operations.

The flagship product line, known as AvalonMiner, encompasses a range of models tailored to different scales of mining activity, from small-scale hobbyist setups to industrial farms.