B. Riley Cuts Canaan (NASDAQ:CAN) Price Target to $2.00

by · The Cerbat Gem

Canaan (NASDAQ:CAN – Free Report) had its price target decreased by B. Riley from $3.00 to $2.00 in a research report report published on Thursday morning,Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Canaan’s Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at ($0.40) EPS and FY2026 earnings at $0.06 EPS.

Other analysts have also issued reports about the stock. Northland Securities assumed coverage on shares of Canaan in a research report on Wednesday, June 18th. They issued a “market perform” rating and a $1.50 price target for the company. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price target on shares of Canaan in a research report on Tuesday, July 8th. Wall Street Zen lowered shares of Canaan from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st. Benchmark reduced their price target on shares of Canaan from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $3.00 price target on shares of Canaan in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.67.

Check Out Our Latest Research Report on Canaan

Canaan Stock Performance

Shares of CAN opened at $0.72 on Thursday. The company has a 50-day moving average of $0.67 and a two-hundred day moving average of $1.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.50 and a quick ratio of 1.11. The stock has a market cap of $268.64 million, a price-to-earnings ratio of -0.71 and a beta of 3.29. Canaan has a one year low of $0.53 and a one year high of $3.27.

Canaan declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 27th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Canaan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAN. EntryPoint Capital LLC bought a new position in shares of Canaan in the fourth quarter valued at approximately $32,000. Raymond James Financial Inc. bought a new position in shares of Canaan in the fourth quarter valued at approximately $33,000. Wellington Management Group LLP bought a new position in shares of Canaan in the fourth quarter valued at approximately $48,000. Chesapeake Capital Corp IL bought a new position in shares of Canaan in the fourth quarter valued at approximately $79,000. Finally, GTS Securities LLC raised its position in shares of Canaan by 137.7% in the fourth quarter. GTS Securities LLC now owns 67,648 shares of the company’s stock valued at $139,000 after purchasing an additional 39,183 shares during the period. Institutional investors own 70.14% of the company’s stock.

About Canaan

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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.

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