Canaan (CAN) set to announce results on Thursday

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Canaan (NASDAQ:CAN – Get Rating) is expected to release earnings data ahead of market open Thursday, May 19. Analysts expect Canaan to post earnings of $0.40 per share for the quarter. Canaan has set its guidance for the first quarter of 2022 to EPS. Those interested in listening to the company’s earnings conference call can do so using this link.

Canaan (NASDAQ:CAN – Get Rating) last released quarterly earnings data on Thursday, March 3. The company reported earnings per share of $1.05 for the quarter. Canaan had a return on equity of 86.99% and a net margin of 38.44%. The company posted revenue of $342.80 million for the quarter. On average, analysts expect Canaan to post EPS of $3 for the current fiscal year and EPS of $3 for the next fiscal year.

NASDAQ CAN shares opened at $2.86 on Thursday. The company’s 50-day moving average is $4.68 and its two-hundred-day moving average is $5.72. Canaan has a 1-year low of $2.84 and a 1-year high of $11.50. The stock has a market capitalization of $452.30 million, a P/E ratio of 1.68 and a beta of 3.95.

Separately, DA Davidson began covering Canaan in a research report on Tuesday, April 5. They set a “buy” rating and a target price of $15.00 for the business.

Major investors have recently changed their positions in the company. UBS Group AG increased its position in Canaan shares by 130.1% during the third quarter. UBS Group AG now owns 6,565 shares of the company valued at $41,000 after purchasing an additional 28,387 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Canaan stock during the first quarter worth approximately $55,000. Vident Investment Advisory LLC bought a new position in Canaan stock during the fourth quarter valued at approximately $56,000. Sei Investments Co. bought a new position in shares of Canaan during the fourth quarter valued at approximately $68,000. Finally, Cubist Systematic Strategies LLC increased its holdings of Canaan stock by 66.2% in the fourth quarter. Cubist Systematic Strategies LLC now owns 19,108 shares of the company valued at $98,000 after purchasing an additional 7,608 shares during the period. Institutional investors and hedge funds hold 13.77% of the company’s shares.

Canaan Company Profile (Get a rating)

Canaan Inc engages in the research, design and sales of integrated circuit (IC) end system products by integrating bitcoin mining IC products and related components primarily in the People’s Republic of China. It is also involved in the assembly of system products; and system product supply chain and distribution.

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Earnings History for Canaan (NASDAQ:CAN)



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