Canaan (CAN) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Since a chan ...

SINGAPORE, Aug. 16, 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 conference. Canaan's management plans to host one-on-one meetings with institutional investors at the conference.Rosenblatt 4th Annual Technology Summit - The Age of AIVirtualPanel: The Evolution of Bitcoin Mining ASICsAugust 19, 2024, 12 pm ETWhen available, a link to the webcast w ...

Canaan Inc. (NASDAQ:CAN) Q2 2024 Earnings Conference Call August 15, 2024 8:00 AM ET Company Participants Nangeng Zhang - Chairman and CEO James Cheng - CFO Conference Call Participants Kevin Dede - H.C. Wainwright Shuang Sun - Guosheng Securities Bill Papanastasiou - Stifle Operator Ladies and gentlemen, thank you for standing by and welcome to Canaan Inc.'s Second Quarter 2024 Earnings Conference Call. At this time, all participants are in the listen-only mode. After the management's prepared remarks, we ...

Operating & Financial Results For the Second Quarter Ended June 30, 2024 August 15, 2024 Chairman & CEO CFO Nangeng Zhang Jin Cheng "James" Safe Harbor Statement NASDAQ: CAN AUGUST 2024 2 This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the United States ("GAAP"), including adjusted EBITDA (including adjusted EBITDA margin), non-GAAP net income, non-GAAP diluted earnings per share/ADS and cash flow. These non-GAAP measures should ...

Company Performance - Canaan reported a quarterly loss of $0.15 per share, better than the Zacks Consensus Estimate of a loss of $0.30, and an improvement from a loss of $0.58 per share a year ago, indicating a 50% earnings surprise [1] - The company achieved revenues of $71.86 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 38.46%, although this represents a decline from year-ago revenues of $73.85 million [1] - Over the last four quarters, Canaan has exceeded consensus EPS estimates two times and topped consensus revenue estimates four times [1] Stock Outlook - Canaan shares have declined approximately 64% since the beginning of the year, contrasting with the S&P 500's gain of 14.4% [2] - The company's earnings outlook is mixed, with the current consensus EPS estimate for the upcoming quarter at -$0.30 on $61 million in revenues, and -$0.90 on $225 million in revenues for the current fiscal year [4] Industry Context - The Computer - Software industry, to which Canaan belongs, is currently ranked in the bottom 46% of over 250 Zacks industries, suggesting potential challenges for stock performance [5] - Another company in the same industry, Verint Systems, is expected to report quarterly earnings of $0.53 per share, reflecting a year-over-year increase of 10.4%, with revenues projected at $213.22 million, up 1.3% from the previous year [5]

- Revenue Surpasses Guidance, up 104.8% QoQ - - Profitability Improves with Operating Loss Narrows by 60.9% YoY and 31.5% QoQ -SINGAPORE, Aug. 15, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended June 30, 2024.Second Quarter 2024 Operating and Financial HighlightsRevenues were US$71.9 million, which beat the previous guidance of US$70 million and incr ...

SINGAPORE, Aug. 6, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to report its financial results for the second quarter ended June 30, 2024, before the U.S. market opens on August 15, 2024. The Company's management team will hold a conference call at 8:00 A.M. on August 15, 2024, U.S. Eastern Time (8:00 P.M. on the same day, Singapore Time) to discuss the financial results. Details for the co ...

NASHVILLE, Tenn., July 29, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN), a leader in high-performance computing solutions and creator of ASIC Bitcoin miners, announced its successful participation in the Bitcoin 2024 conference, held from July 25-27 which attracts approximately 35000 people. Canaan showcased its latest Bitcoin miners, including the Avalon Miner A15 series, Avalon Box, Avalon Nano 3, and One-stop Mining Solutions. Attendees experienced live demonstrations and gained insights into Canaan's ...

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MIAMI, June 26, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN), the creator of ASIC Bitcoin miners, unveiled its latest advancement, the Avalon Immersion Cooling Miner A1566I, with a hash rate of 249T and an energy efficiency of 19J/TH with a power consumption of 4500W, at the esteemed Mining Disrupt 2024 conference. Ning Zhang, Canaan's Vice President and General Manager of Canaan U.S. expressed his enthusiasm: "We are thrilled to introduce the Avalon Miner A1566I. This product epitomizes our commitment to ...