CAN
Canaan CreativeCAN
CAN
About: Canaan Inc is a developer of supercomputing chips and the manufacturer of digital blockchain computing equipment as well as the supplier of the overall scheme for computer software and hardware of digital blockchain. The revenues of the company are derived from the sales of Bitcoin mining machines and related parts.
Employees: 541
0
Funds holding %
of 6,823 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
38% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 8
21% more repeat investments, than reductions
Existing positions increased: 23 | Existing positions reduced: 19
17% more call options, than puts
Call options by funds: $1.43M | Put options by funds: $1.22M
0% more funds holding
Funds holding: 68 [Q2] → 68 (+0) [Q3]
0.11% less ownership
Funds ownership: 1.37% [Q2] → 1.26% (-0.11%) [Q3]
8% less capital invested
Capital invested by funds: $57.9M [Q2] → $53.5M (-$4.48M) [Q3]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$3
41%
upside
Avg. target
$3.50
64%
upside
High target
$4
88%
upside
2 analyst ratings
2 positive
100%
0 neutral
0%
0 negative
0%
HC Wainwright & Co. Kevin Dede 57% 1-year accuracy 34 / 60 met price target | 41%upside $3 | Buy Reiterated | 22 Jan 2025 |
Rosenblatt Kevin Cassidy 65% 1-year accuracy 35 / 54 met price target | 88%upside $4 | Buy Maintained | 6 Dec 2024 |
Financial journalist opinion
Based on 5 articles about CAN published over the past 30 days
Positive
Zacks Investment Research
21 hours ago
Canaan (CAN) Upgraded to Buy: Here's What You Should Know
Canaan (CAN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Neutral
PRNewsWire
1 day ago
Canaan Inc. Announces December 2024 Bitcoin Production and Mining Operation Updates and Provides FY2025 Financial Guidance
Expects total revenues for FY2025 in the range of US$900 million to US$1.1 billion SINGAPORE , Jan. 21, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today released its unaudited bitcoin mining update for the month ending December 31, 2024, and provided financial guidance for fiscal year 2025. Management Commentary "Since the beginning of the fourth quarter of 2024, we have made considerable progress in expanding our market presence, strengthening partnerships and advancing our self-mining operations, while steadily increasing our bitcoin holdings on our balance sheet," said Nangeng Zhang, chairman and chief executive officer of Canaan.
Positive
The Motley Fool
4 days ago
Why Bitcoin and Related Stocks Soared on Friday
Many stocks and funds in the cryptocurrency sphere soared on Friday. The classic Bitcoin (BTC 4.52%) cryptocurrency gained as much as 5.3%, as measured from Thursday's market close, boosting a wide range of closely related investments in the process.
Neutral
PRNewsWire
2 weeks ago
Canaan Introduces Revolutionary Bitcoin Mining Heaters for Home and Personal Use in CES 2025
LAS VEGAS , Jan. 7, 2025 /PRNewswire/ -- Canaan INC (NASDAQ: CAN), a leading blockchain hardware manufacturer, today announced the launch of the Avalon Mini 3 and Nano 3S in Las Vegas, CES . The two innovative Bitcoin mining devices are designed to democratize cryptocurrency mining for individuals and turning a home heating system into a crypto mining device.
Neutral
PRNewsWire
2 weeks ago
Canaan Inc. Secures A15XP Order from New United States Customer
SINGAPORE , Jan. 6, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that Canaan U.S. Inc., a wholly owned subsidiary of the Company, has entered into a purchase agreement with a new, strategic United States customer for its Avalon A15XP miners. According to the purchase agreement, Canaan U.S. Inc. will provide the customer with 2800 air-cooled Avalon A15XP miners that will be added to its large mining fleet.
Neutral
PRNewsWire
1 month ago
Canaan Inc. Signs Agreement with AGM Group Holdings Inc.
Provides 2000 A15 Hydro Bitcoin mining machines in initial order Continues global expansion with addition of new customer SINGAPORE , Dec. 12, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that Canaan Creative Global Pte. Ltd. ("CCG"), a wholly owned Singapore subsidiary of the Company, has entered into a purchase agreement with AGM Group Holdings Inc. ("AGMH"), an integrated technology company specializing in fintech software services and production of high-performance hardware and computing equipment, for its Avalon A15 HydU 370T ("A15 Hydro") mining machines.
Neutral
PRNewsWire
1 month ago
Canaan Inc. to Participate in Upcoming Investor Conferences
SINGAPORE , Dec. 2, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that the Company will participate in the following investor conferences in December 2024. Canaan's management plans to host one-on-one meetings with institutional investors at the conferences.
Neutral
Accesswire
1 month ago
Theralase(R) Release's 3Q2024 Financial Statements
TORONTO, ON / ACCESSWIRE / November 27, 2024 / Theralase® Technologies Inc. (" Theralase® " or the " Company ") (TSXV:TLT)(OTCQB:TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light, radiation, sound and drug-activated small molecules and their formulations, intended for the safe and effective destruction of various cancers, bacteria and viruses has released the Company's unaudited condensed consolidated interim financial statements for the nine-month period ended September 30, 2024. (" Financial Statements ").
Neutral
PRNewsWire
1 month ago
Canaan Inc. Closes Series A-1 Preferred Shares Financing
SINGAPORE , Nov. 26, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has closed the previously announced Series A-1 preferred shares financing (the "Preferred Shares Financing"), raising total gross proceeds of US$30 million. On November 19, 2024, the Company entered into a securities purchase agreement ("Securities Purchase Agreement") with an institutional investor (the "Buyer"), pursuant to which the Company agreed to issue and sell to the Buyer 30,000 Series A-1 Convertible Preferred Shares (the "Preferred Shares") at the price of US$1,000.00 for each Preferred Share.
Positive
Zacks Investment Research
2 months ago
Should You Buy Canaan (CAN) After Golden Cross?
From a technical perspective, Canaan Inc. Sponsored ADR (CAN) is looking like an interesting pick, as it just reached a key level of support. CAN's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.
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