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SAIHEAT Limited
(NASDAQ:SAIH)
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Rating:44Neutral
Price Target:
$24.00
▲(2.52% Upside)
Action:Reiterated
Date:10/03/26
The score is held down primarily by very weak fundamentals—shrinking revenue, deeply negative profitability (including negative gross profit), and persistent, worsening cash burn that is eroding equity and increasing leverage. Technicals provide only partial offset with a mixed setup (longer-term trend support but weaker near-term positioning), while valuation remains unfavorable due to losses and no dividend.
Positive Factors
Strategic AI Infrastructure Pivot
The planned combination broadens SAIHEAT beyond its existing data-center business into AI inference infrastructure, pairing physical capacity with cloud and software capabilities. If executed, this could improve market relevance and create a more integrated platform for growing AI workloads.
Negative Factors
Shrinking Revenue and Negative Gross Profit
The sustained revenue decline shows weakening operating scale, while negative gross profit indicates the core business is not covering direct costs. Without a durable margin recovery, growth investment becomes harder to fund and losses may continue to pressure the company.
Read all positive and negative factors
Positive Factors
Negative Factors
Strategic AI Infrastructure Pivot
The planned combination broadens SAIHEAT beyond its existing data-center business into AI inference infrastructure, pairing physical capacity with cloud and software capabilities. If executed, this could improve market relevance and create a more integrated platform for growing AI workloads.
Read all positive factors
SAIHEAT Limited (SAIH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$44.86M
Dividend YieldN/A
Average Volume (3M)17.43K
Price to Earnings (P/E)―
Beta (1Y)2.70
Revenue Growth-18.42%
EPS Growth-2.17%
CountryUS
Employees16
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)-3.52
Shares Outstanding1,195,249
10 Day Avg. Volume15,480
30 Day Avg. Volume17,426
Financial Highlights & Ratios
PEG Ratio-1.81
Price to Book (P/B)2.28
Price to Sales (P/S)3.74
P/FCF Ratio-2.22
Enterprise Value/Market Cap617.65K
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-20.26M
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
SAIHEAT Limited Business Overview & Revenue Model
Company Description
SAIHEAT is a global operator of distributed computing power infrastructure. Using a modular computing power system, the company helps energy owners tackle challenges around local energy consumption and efficient resource utilization. Leveraging pr...
SAIHEAT Limited Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
38
Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 4.52M | 5.54M | 6.78M | 10.64M | 17.04M |
| Gross Profit | 0.00 | -2.35M | -1.01M | 457.00K | 1.14M | 1.26M |
| EBITDA | -1.37M | -3.71M | -3.99M | -5.67M | -4.69M | -16.00M |
| Net Income | -1.37M | -6.45M | -5.89M | -6.12M | -8.85M | -16.70M |
Balance Sheet | ||||||
| Total Assets | 11.53M | 12.71M | 18.53M | 18.07M | 21.10M | 11.53M |
| Cash, Cash Equivalents and Short-Term Investments | 4.48M | 202.00K | 1.06M | 3.26M | 11.23M | 4.48M |
| Total Debt | 44.00K | 4.20M | 2.68M | 810.00K | 419.00K | 44.00K |
| Total Liabilities | 13.90M | 5.32M | 4.17M | 1.26M | 786.00K | 13.90M |
| Stockholders Equity | -2.36M | 7.40M | 14.37M | 16.82M | 20.31M | -2.36M |
Cash Flow | ||||||
| Free Cash Flow | -666.10K | -7.62M | -6.27M | -8.17M | -6.80M | -4.95M |
| Operating Cash Flow | -666.11K | -7.62M | -5.55M | -3.13M | -4.93M | -983.00K |
| Investing Cash Flow | -44.89M | 5.16M | 1.35M | -4.90M | -6.42M | -3.97M |
| Financing Cash Flow | 45.57M | 1.56M | 2.12M | 9.00K | 18.53M | 8.19M |
SAIHEAT Limited Technical Analysis
Neutral
23.41
Price Trends
23.49
Positive
17.71
Positive
13.19
Positive
Market Momentum
1.57
Positive
44.91
Neutral
28.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SAIH, the sentiment is Neutral. The current price of 23.41 is below the 20-day moving average (MA) of 26.88, below the 50-day MA of 23.49, and above the 200-day MA of 13.19, indicating a neutral trend. The MACD of 1.57 indicates Positive momentum. The RSI at 44.91 is Neutral, neither overbought nor oversold. The STOCH value of 28.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SAIH.
SAIHEAT Limited Risk Analysis
SAIHEAT Limited disclosed 124 risk factors in its most recent earnings report. SAIHEAT Limited reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SAIHEAT Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | $59.67M | -26.68 | -6.32% | ― | 16.26% | 72.47% | |
48 Neutral | $76.31M | -104.13 | -1.53% | 1.59% | -0.68% | 57.82% | |
44 Neutral | $44.86M | -7.02 | -67.71% | ― | -18.42% | -2.17% | |
41 Neutral | $902.59K | >-0.01 | -293.32% | ― | -23.20% | -73.44% | |
41 Neutral | $1.62M | -0.27 | -36.62% | ― | 18.42% | -272.35% |
* Technology Sector Average
SAIH
SAIHEAT Limited
24.71
13.99
130.50%
CSPI
CSP
7.57
-3.70
-32.80%
CTM
Castellum
0.63
-0.47
-42.82%
JFU
9F
2.66
-0.05
-1.85%
NOTE
FiscalNote Holdings
0.03
-5.11
-99.42%
LHSW
Lianhe Sowell International Group Ltd.
0.47
-34.09
-98.64%
SAIHEAT Limited Corporate Events
SAIHEAT Files Pro Forma Financials Detailing Reverse Merger With Canopy Wave
Sep 30, 2026
On September 29, 2026, SAIHEAT Limited filed a Form 6-K for September 2026, furnishing unaudited pro forma condensed combined financial information and financial statements of Canopy Wave Inc. in connection with a planned reverse merger. The filin...
SAIHEAT Shareholders Back Merger, Governance Overhaul and Rebrand to Canopy Wave Holdings
Aug 26, 2026
On August 26, 2026, SAIHEAT Limited held a virtual extraordinary general meeting at which shareholders approved all proposals, including a reclassification of authorized but unissued Class B shares into Class A shares and corresponding amendments ...
SAIHEAT Sets August 26 EGM to Approve Canopy Wave Merger and $4.5 Million PIPE Financing
Aug 13, 2026
SAIHEAT Limited has called a virtual extraordinary general meeting for August 26, 2026, seeking shareholder approval for a merger with U.S.-based Canopy Wave Inc., an AI infrastructure and GPU-as-a-Service provider founded in 2024 that has generat...
SAIHEAT Strikes Canopy Wave Merger to Pivot Into U.S.-Led AI Inference Platform
Aug 10, 2026
On August 10, 2026, SAIHEAT Limited signed a definitive merger agreement to acquire Santa Clara-based Canopy Wave Inc., merging it into a wholly owned subsidiary and renaming the combined entity Canopy Wave Holdings Inc., which is expected to list...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.