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CAN
Upturn stock ratingUpturn stock rating

Canaan Inc (CAN)

Upturn stock ratingUpturn stock rating
$2.12
Delayed price
Profit since last BUY63.08%
upturn advisory
SELL
SELL since 1 day
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  • SELL Advisory (Profit)​
  • SELL Advisory (Loss)​
  • Profit
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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!

Upturn Star Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

AI Based Fundamental Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Analysis of Past Performance

Type Stock
Historic Profit -75.45%
Avg. Invested days 21
Today’s Advisory SELL
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 1.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 01/07/2025

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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