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Canaan Inc (CAN)



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Upturn Advisory Summary
01/07/2025: CAN (1-star) is a SELL. SELL since 1 days. Profits (63.08%). Updated daily EoD!
Analysis of Past Performance
Type Stock | Historic Profit -75.45% | Avg. Invested days 21 | Today’s Advisory SELL |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 434.49M USD | Price to earnings Ratio - | 1Y Target Price 2.48 |
Price to earnings Ratio - | 1Y Target Price 2.48 | ||
Volume (30-day avg) 22993237 | Beta 3.07 | 52 Weeks Range 0.72 - 3.27 | Updated Date 02/9/2025 |
52 Weeks Range 0.72 - 3.27 | Updated Date 02/9/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -1.43 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -158.65% | Operating Margin (TTM) -63.74% |
Management Effectiveness
Return on Assets (TTM) -36.18% | Return on Equity (TTM) -74.69% |
Valuation
Trailing PE - | Forward PE 2.15 | Enterprise Value 459723500 | Price to Sales(TTM) 2.25 |
Enterprise Value 459723500 | Price to Sales(TTM) 2.25 | ||
Enterprise Value to Revenue 2 | Enterprise Value to EBITDA 0.6 | Shares Outstanding 266964000 | Shares Floating 3928027204 |
Shares Outstanding 266964000 | Shares Floating 3928027204 | ||
Percent Insiders - | Percent Institutions 20.58 |
AI Summary
Canaan Inc. Stock Overview
Company Profile:
History and Background:
Canaan Inc. (CAN) is a leading Bitcoin mining hardware manufacturer based in Hangzhou, China. Founded in 2013, the company initially focused on developing and selling Bitcoin mining machines. In 2018, CAN became the first mining machine manufacturer to be listed on the NASDAQ stock exchange.
Core Business Areas:
- Bitcoin Mining Hardware: CAN designs, develops, and sells high-performance Bitcoin mining machines, including Avalon series ASIC miners.
- AI Chip Development: The company is expanding into the artificial intelligence (AI) chip market, developing AI chips for various applications.
Leadership and Corporate Structure:
- Nangeng Zhang: Founder and CEO, with over 20 years of experience in the semiconductor industry.
- Jianping Chen: CFO, former CFO of Alibaba Group.
- Board of Directors: Comprised of experienced professionals from the technology and finance industries.
Top Products and Market Share:
Top Products:
- AvalonMiner A1246: High-performance Bitcoin mining machine with a hash rate of 90 TH/s.
- AvalonMiner 1166 Pro: Mid-range Bitcoin mining machine with a hash rate of 81 TH/s.
- AI Chip for Edge Computing: Designed for low-power AI applications at the edge of the network.
Market Share:
- Global: CAN is one of the top three Bitcoin mining hardware manufacturers, with a global market share of approximately 20%.
- US: The company has a smaller market share in the US compared to China, but it is still a significant player in the market.
Total Addressable Market:
The total addressable market for Bitcoin mining hardware is estimated to be worth several billion dollars. This market is expected to grow significantly in the coming years as the adoption of Bitcoin continues to increase.
Financial Performance:
Recent Financial Statements:
- Revenue: CAN's revenue has been fluctuating in recent years, reflecting the volatility of the Bitcoin mining industry.
- Net Income: The company's net income has also been volatile, but it has been positive in recent quarters.
- Profit Margins: CAN's profit margins are relatively low compared to other technology companies.
- Earnings per Share (EPS): The company's EPS has been positive in recent quarters, but it has also been volatile.
Year-over-Year Comparison:
CAN's financial performance has been mixed in recent years. The company's revenue has been growing, but its net income and profit margins have been volatile.
Cash Flow and Balance Sheet:
- Cash Flow: CAN has a strong cash flow position, with positive operating cash flow in recent quarters.
- Balance Sheet: The company has a relatively healthy balance sheet, with a low debt-to-equity ratio.
Dividends and Shareholder Returns:
Dividend History: CAN does not currently pay dividends to shareholders.
Shareholder Returns: CAN's stock price has been highly volatile in recent years, reflecting the volatility of the Bitcoin mining industry. However, the company's stock price has outperformed the S&P 500 index over the past year.
Growth Trajectory:
Historical Growth:
CAN has experienced strong revenue growth in recent years, driven by the increasing adoption of Bitcoin.
Future Growth Projections:
The company's future growth prospects are tied to the growth of the Bitcoin mining industry. If the adoption of Bitcoin continues to increase, CAN is well-positioned to benefit from this growth.
Recent Product Launches and Strategic Initiatives:
- New Bitcoin Mining Machine: CAN recently launched its new AvalonMiner A1246, which is its most powerful Bitcoin mining machine to date.
- AI Chip Development: The company is actively developing AI chips for various applications, which could provide a new source of revenue growth in the future.
Market Dynamics:
Industry Overview:
The Bitcoin mining hardware industry is characterized by intense competition and rapid technological advancements.
CAN's Position:
CAN is a leading player in the Bitcoin mining hardware industry, with a strong track record of innovation and product development. The company is well-positioned to benefit from the growing adoption of Bitcoin.
Competitors:
- Bitmain (BMI): CAN's main competitor, with a market share of approximately 50%.
- MicroBT (MI): Another major competitor, with a market share of approximately 15%.
Competitive Advantages:
- Strong R&D capabilities
- Experienced management team
- Strong financial position
Competitive Disadvantages:
- Volatility of the Bitcoin mining industry
- Intense competition
Potential Challenges and Opportunities:
Key Challenges:
- Fluctuations in the price of Bitcoin
- Competition from other mining hardware manufacturers
- Technological advancements
Potential Opportunities:
- Growth of the Bitcoin mining industry
- Expansion into new markets, such as AI chip development
- Strategic partnerships
Recent Acquisitions:
About Canaan Inc
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2019-11-20 | Chairman & CEO Mr. Nangeng Zhang | ||
Sector Technology | Industry Computer Hardware | Full time employees 445 | |
Full time employees 445 |
Canaan Inc. engages in the research, design, and sale of integrated circuits (IC), and lease of final mining equipment 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; and distribution of artificial intelligence products, as well as mining business. The company has operations in the United States, Australia, Kazakhstan, Canada, Indonesia, Mainland China, Malaysia, Thailand, Cyprus, and internationally. Canaan Inc. was founded in 2013 and is headquartered in Singapore.
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