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Canaan ( (CAN) ) has provided an announcement.
Canaan Inc. announced updates to its at-the-market (ATM) offering program, raising approximately $7.8 million through the sale of about 4.84 million American depositary shares at an average price of $1.61 per ADS. The company has paused further sales for the rest of 2025, with future sales dependent on market conditions and cash requirements. This move is part of Canaan’s strategy to enhance financial flexibility for growth initiatives. Additionally, Canaan launched its latest bitcoin mining machine, the Avalon A16 series, on October 28, 2025, showcasing advancements in power efficiency and manufacturing quality.
The most recent analyst rating on (CAN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
Spark’s Take on CAN Stock
According to Spark, TipRanks’ AI Analyst, CAN is a Neutral.
Canaan’s overall stock score reflects a mix of significant financial challenges and recent operational improvements. The earnings call was a positive highlight, showing record revenue and improved EBITDA, but ongoing losses and valuation concerns weigh on the score. Technical indicators suggest potential for upward movement, but the financial performance remains a critical area for improvement.
To see Spark’s full report on CAN stock, click here.
More about Canaan
Canaan Inc., established in 2013, is a technology company specializing in ASIC high-performance computing chip design, research and development, computing equipment production, and software services. Known for its pioneering work in the ASIC field, Canaan introduced the world’s first ASIC-based mining machines under the Avalon brand and went public on the Nasdaq Global Market in 2019.
Average Trading Volume: 52,499,233
Technical Sentiment Signal: Buy
Current Market Cap: $581.6M
For a thorough assessment of CAN stock, go to TipRanks’ Stock Analysis page.