Rosenblatt Securities Has Lowered Expectations for Canaan (NASDAQ:CAN) Stock Price

Canaan (NASDAQ:CAN) had its price objective cut by equities research analysts at Rosenblatt Securities from $2.25 to $1.30 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective points to a potential upside of 211.75% from the stock’s previous close.

A number of other equities analysts have also weighed in on CAN. Benchmark cut their target price on shares of Canaan from $4.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. BTIG Research reiterated a “buy” rating and set a $3.00 target price on shares of Canaan in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $1.50 target price on shares of Canaan in a research report on Wednesday, February 11th. Wall Street Zen upgraded shares of Canaan to a “sell” rating in a research report on Saturday, April 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Canaan in a research report on Monday, April 20th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2.01.

Canaan Price Performance

Shares of NASDAQ:CAN opened at $0.42 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 3.31 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $298.66 million, a PE ratio of -0.87 and a beta of 2.65. Canaan has a twelve month low of $0.39 and a twelve month high of $2.22. The company has a 50-day moving average price of $0.48 and a two-hundred day moving average price of $0.68.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Canaan during the 1st quarter valued at about $43,000. Virtu Financial LLC purchased a new position in Canaan during the 4th quarter valued at about $46,000. SBI Securities Co. Ltd. grew its holdings in shares of Canaan by 155.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,698,885 shares of the company’s stock worth $1,172,000 after purchasing an additional 1,034,040 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Canaan by 52.0% during the first quarter. Goldman Sachs Group Inc. now owns 587,451 shares of the company’s stock worth $516,000 after purchasing an additional 200,869 shares in the last quarter. Hedge funds and other institutional investors own 70.14% of the company’s stock.

Trending Headlines about Canaan

Here are the key news stories impacting Canaan this week:

• Positive Sentiment: Canaan said Q1 revenue of $62.7 million was in line with its prior guidance, and it continued to expand its bitcoin treasury, which reached a record 1,807.6 BTC and 3,951.5 ETH at quarter-end. Canaan Inc. Reports Unaudited First Quarter 2026 Financial Results
• Positive Sentiment: The company also announced new energy-focused projects, including a 49% stake in ABC Projects in West Texas and a win to supply hash-to-heat equipment for a Nordic district heating network, supporting its push into higher-value, integrated compute infrastructure. Canaan Inc. Wins Competitive Bid to Provide Hash-to-Heat Equipment to Nordic District Heating Network
• Neutral Sentiment: BTIG Research reaffirmed its Buy rating and set a $3.00 price target, which may help sentiment, but the stock is being driven more by operating results than by analyst commentary. Benzinga report on BTIG rating reaffirmation
• Negative Sentiment: Q1 earnings came in at a loss of $0.13 per share, wider than expectations for a $0.07 loss, and revenue missed some estimates despite being close to the company’s own guidance. Canaan (CAN) Reports Q1 Loss, Lags Revenue Estimates
• Negative Sentiment: Investors are also reacting to weak second-quarter guidance, with revenue expected at $35 million to $45 million versus a much higher consensus estimate, suggesting near-term demand and profitability pressure. Canaan Inc. Reports Unaudited First Quarter 2026 Financial Results
• Negative Sentiment: Unusual options activity showed heavy put buying, indicating some traders are positioning for more downside after the earnings update. Canaan Inc Q1 2026 Earnings Call Highlights: Strategic Shifts Amid Market Challenges

About Canaan

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.