What is HC Wainwright’s Forecast for Canaan FY2026 Earnings?

Canaan Inc. Sponsored ADR (NASDAQ:CAN) – HC Wainwright issued their FY2026 EPS estimates for shares of Canaan in a note issued to investors on Wednesday, February 11th. HC Wainwright analyst K. Dede expects that the company will earn ($0.15) per share for the year. HC Wainwright currently has a “Buy” rating and a $1.50 target price on the stock. The consensus estimate for Canaan’s current full-year earnings is ($0.74) per share.

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

Several other equities analysts also recently commented on the stock. BTIG Research reiterated a “buy” rating and issued a $3.00 price objective on shares of Canaan in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Canaan in a research note on Wednesday, January 21st. Benchmark cut their price objective on shares of Canaan from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday. Wall Street Zen cut Canaan from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Finally, Rosenblatt Securities lowered their target price on Canaan from $4.00 to $2.50 and set a “buy” rating on the stock in a research note on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Canaan currently has a consensus rating of “Moderate Buy” and an average target price of $2.25.

Canaan Stock Down 2.1%

CAN stock opened at $0.49 on Friday. The business’s 50 day simple moving average is $0.74 and its 200 day simple moving average is $0.92. Canaan has a 1-year low of $0.47 and a 1-year high of $2.22. The firm has a market capitalization 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 announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 17th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Canaan

A number of hedge funds and other institutional investors have recently made changes to their positions in CAN. SBI Securities Co. Ltd. grew its position in Canaan by 32.1% during the second quarter. SBI Securities Co. Ltd. now owns 202,605 shares of the company’s stock worth $125,000 after buying an additional 49,206 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Canaan in the 2nd quarter valued at $355,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of 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 acquiring an additional 200,869 shares during the period. 70.14% of the stock is currently owned by institutional investors and hedge funds.

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.