Canaan (NASDAQ:CAN) Given New $1.00 Price Target at BTIG Research

Canaan (NASDAQ:CAN) had its price objective decreased by BTIG Research from $2.00 to $1.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other analysts have also recently commented on CAN. B. Riley Financial reduced their target price on shares of Canaan from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Thursday, October 1st. Rosenblatt Securities reiterated a “buy” rating and set a $0.75 price target on shares of Canaan in a research note on Tuesday, September 15th. Weiss Ratings cut shares of Canaan from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. JonesTrading raised shares of Canaan to a “strong-buy” rating in a report on Saturday, September 26th. Finally, Zacks Research downgraded shares of Canaan from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1.35.

Canaan Trading Down 19.1%

NASDAQ:CAN opened at $0.16 on Wednesday. Canaan has a 12-month low of $0.15 and a 12-month high of $1.15. The company has a current ratio of 2.86, a quick ratio of 1.67 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $0.29 and its 200-day simple moving average is $0.38. The firm has a market cap of $117.03 million, a P/E ratio of -0.37 and a beta of 2.56.

Canaan shares are going to reverse split on Friday, December 4th. The 1-25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, December 3rd.

Canaan (NASDAQ:CAN) last posted its quarterly earnings data on Tuesday, November 10th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Canaan had a negative net margin of 67.78% and a negative return on equity of 77.73%. The firm had revenue of $14.54 million for the quarter, compared to analyst estimates of $2.05 million. During the same period last year, the firm posted ($0.00) EPS. Equities analysts anticipate that Canaan will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Canaan

A hedge fund recently bought a new stake in Canaan stock. Vontobel Holding Ltd. purchased a new position in shares of Canaan Inc. Sponsored ADR (NASDAQ:CAN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 423,658 shares of the company’s stock, valued at approximately $146,000. Vontobel Holding Ltd. owned 0.06% of Canaan as of its most recent SEC filing. 70.14% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Canaan

Here are the key news stories impacting Canaan this week:

• Positive Sentiment: Canaan reported Q3 GAAP net income of $8 million and earnings of $0.01 per share, beating the consensus estimate for a loss. It also announced an initial $20 million share repurchase program within a broader $100 million authorization, which could support shareholder returns. Canaan Q3 2026 financial results
• Positive Sentiment: The company received a conditional “Studied Load – Firm” classification for its 1 GW Duval County power project and advanced a second 1 GW Texas project, supporting its effort to expand into power and AI/HPC infrastructure. Canaan’s Texas power and AI/HPC plans
• Neutral Sentiment: Canaan plans a 1-for-25 reverse split of its ADSs, effective around December 4. The change adjusts the share count and per-share price but does not itself change the company’s underlying value. Canaan ADS ratio change announcement
• Negative Sentiment: Q3 revenue was $14.5 million, down about 90% year over year, as mining-rig sales slumped. The profit beat was therefore tempered by weak underlying hardware demand; reports attributed much of the profit to Bitcoin gains. Canaan Q3 revenue report
• Negative Sentiment: Q4 revenue guidance of $18 million–$22 million is below the roughly $29 million analyst consensus, signaling that the near-term recovery may be slower than expected. Canaan Q4 revenue outlook

About Canaan

Canaan Inc. is a technology company that develops application-specific integrated circuit (ASIC) products and related computing solutions. The company is best known for its Avalon series of Bitcoin mining machines, which are designed to perform the specialized computations required to validate transactions and support blockchain networks. In addition to cryptocurrency-mining equipment, Canaan develops high-performance computing hardware and artificial intelligence (AI) solutions. Its product portfolio has included AI accelerator chips, edge-computing devices and related software or systems intended for applications such as intelligent transportation, security, robotics and other data-intensive technologies.