As the price of Bitcoin surged in the fourth quarter of 2020, the market demand for mining machines started to recover and the Company had received a large number of orders which were mainly scheduled for delivery in 2021. Total operating expenses in the full year of 2020 decreased by 45.8% to RMB291.6 million (US$44.7 million) from RMB538.5 million in the full year of 2019. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique access PIN, which can be used to join the conference call. These investments are highly liquid and can be recouped at any time. ET on Motley Fool. Data Provided by Refinitiv. Research and development expenses in the fourth quarter of 2020 were RMB40.1 million (US$6.1 million), representing a decrease of 37.0% from RMB63.6 million in the same period of 2019 and an increase of 24.7% from RMB32.1 million in the third quarter of 2020. Full Year 2020 Operating and Financial Highlights Total computing power sold was 6.6 million Thash/s, representing a year-over-year decrease of 37.1% from 10.5 million Thash/s in 2019.Total net revenues decreased to RMB447.7 million (US$68.6 million) from RMB1,422.6 million in 2019.Gross profit was RMB37.8 million (US$5.8 million) compared to a gross loss of RMB516.0 million in 2019. View which stocks have been most impacted by COVID-19. Canaan Creative, one of the largest and most popular companies in the cryptocurrency mining space, had a rather good day yesterday as its stock saw a significant uptick. View Canaan's Short Interest. Canaan was fairly choppy leading into a Red I degree peak in early 2021. Cost of revenues in the fourth quarter of 2020 decreased to RMB29.2 million (US$4.5 million) from RMB1,136.7 million in the same period of 2019 and RMB180.0 million in the third quarter of 2020. In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: You have already added five stocks to your watchlist. Canaan Inc., a maker of Bitcoin mining machines, lost the lead left bank for its U.S. initial public offering and has scaled back its offering. Canaan Inc. may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. View our earnings forecast for Canaan. Receive a free world-class investing education from MarketBeat. Canaan's stock was trading at $3.91 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization. Any recent news is not provided as the reason for the rise and fall of CAN stock. As of December 31, 2020, the Company had cash and cash equivalents of RMB391.3 million (US$60.0 million) compared to RMB516.6 million as of December 31, 2019. Contact IR. Blockchain Stocks: Why EBON, RIOT, CAN and MARA Stocks Are on the Move Today Mar. Surrounded by the operations of NYSE-listed gold giants, see how this tiny exploration firm planted its flag in the sweet spot of an emerging gold area-play in Canada’s richest mineral belt. Shares of Canaan (NASDAQ: CAN) crashed on Monday after the company reported final financial results for 2020. Canaan Inc ADR is in the bottom half of stocks based on the fundamental outlook for the stock and an analysis of the stock's chart. The year-over-year decreases in cost of revenues were in line with the changes in the Company’s Thash sales volume and cost per Thash. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. Edge Computing . Canaan Creative Inc. (NASDAQ: CAN) stock declined by 8.32% in the last trading close whereas the CAN stock price rises by 11.16% in the pre-market trading session. Further, the non-GAAP financial measure “adjusted net loss” may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. 326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257 Total operating expenses in the fourth quarter of 2020 were RMB80.1 million (US$12.3 million), representing a decrease of 37.3% from RMB127.7 million in the same period of 2019 and an increase of 5.6% from RMB75.9 million in the third quarter of 2020. After deep analysis of specific application use cases and the current market demand for computing power, we designed two new series of AI chips that will be in production in the second half of 2021.” Mr. Tong He, Chief Financial Officer of Canaan, stated, “Due to supply chain disruptions, as the price of Bitcoin rallied in late 2020, we experienced a surge of demand for high-quality mining machines both in and outside of China. Pre-Market earnings guidance on Monday, April, 12th. Canaan has received 75.00% “underperform” votes from our community. How is Canaan forecast to perform in the next 1 to 3 years based on estimates from 0 analysts? Net loss attributable to ordinary shareholders in the fourth quarter of 2020 narrowed to RMB72.0 million (US$11.0 million) from RMB798.2 million in the same period of 2019 and RMB86.4 million in the third quarter of 2020. By the end of the trading day, CAN, Canaan’s stock had … 29, 2021 at 12:31 p.m. In comparison, basic and diluted net loss per ADS in the same period of 2019 were both RMB5.34. Canaan is headquartered at 30/F DICARA SILVER TOWER 29 JIEFANG EAST ROAD JIANGGAN DISTRICT, HANGZHOU F4, 310016. Full Year 2020 Financial Results Total net revenues in the full year of 2020 were RMB447.7 million (US$68.6 million) compared to RMB1,422.6 million in 2019. Research and development expenses in the full year of 2020 decreased by 17.1% to RMB140.0 million (US$21.5 million) from RMB169.0 million in the full year of 2019, primarily due to the changes in materials that the Company used for research and development purposes. A rank of 40 means … In the past three months, Canaan insiders have not sold or bought any company stock. Identify stocks that meet your criteria using seven unique stock screeners. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Forward−looking statements involve inherent risks and uncertainties. Global Lateral Epicondylitis (Tennis Elbow) Treatment Market Revenue forecast, company share and competitive landscape (2021-2026) ... Trends, Segmented Analysis and Forecast by 2026 | Bitmain Technologies, Canaan Creative, Halong Mining. Only 4.10% of the stock of Canaan is held by institutions. Learn more. All of those efforts have enabled us to begin delivering the A12 series of products at a large scale in the first quarter of 2021. Non-GAAP adjusted net loss in the full year of 2020 narrowed to RMB212.1 million (US$32.5 million) from RMB764.3 million in the full year of 2019. 13.29 +0.15 (1.14%)After hours: 7:59PM EDT, Subscribe to Yahoo Finance Plus to view Fair Value for CAN. The P/E ratio of Canaan is 20.86, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 70.82. Gross profit in the full year of 2020 was RMB37.8 million (US$5.8 million) compared to a gross loss of RMB516.0 million in the full year of 2019. According to Sanford C. Bernstein, Canaan Creative held 15 percent of the market in 2017, with Bitmain boasting a market share between 70 and 80 percent. Learn more. The year-over-year and quarter-over-quarter decreases in cost of revenues were in line with the changes in the Company’s Thash sales volume and cost per Thash. Today's High Today's Low 52 Week High 52 Week Low. Canaan Inc. is a bitcoin mining hardware manufacturer based in Hangzhou, China. The Company believes that adjusted net income provides useful information about our operating results, enhances the overall understanding of Canaan’s past performance and future prospects and allows for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making. About Canaan Inc. Analyst Report: Alibaba Group Holding Limited, Morningstar | A Weekly Summary of Stock Ideas and Developments in the Companies We Cover, Discover new investment ideas by accessing unbiased, in-depth investment research, NasdaqGS - NasdaqGS Real Time Price. US-based ASIC Mining Hardware Retailer Blokforge Reviews Canaan’s Next-Generation A1246 AvalonMiner. You may get help and support from the community forum. David Pan Jun 15, 2020. The decrease was mainly due to the year-over-year decline in total computing power sold and lower average selling price per Thash/s during the first three quarters of 2020. Stock analysis for Canaan Inc (CAN:NASDAQ GM) including stock price, stock chart, company news, key statistics, fundamentals and company profile. Some companies that are related to Canaan include Sumco (SUOPY), BE Semiconductor Industries (BESIY), Lattice Semiconductor (LSCC), Silicon Laboratories (SLAB), Dialog Semiconductor (DLGNF), Amkor Technology (AMKR), CMC Materials (CCMP), Allegro MicroSystems (ALGM), Cirrus Logic (CRUS), Power Integrations (POWI), SunPower (SPWR), Daqo New Energy (DQ), Synaptics (SYNA), Semtech (SMTC) and MACOM Technology Solutions (MTSI). Use of Non­GAAP Financial Measures In evaluating Canaan’s business, the Company considers and uses adjusted net income as a supplemental measure to review and assess its operating performance. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. 7.3%. Using the AI chip as its base, Canaan Inc. has established an intellectual value chain. Bitcoin miner manufacturer Canaan witnessed its stock price surge by over 80% on Wednesday, February 12. View which stocks have been most impacted by COVID-19. The company has a strategic cooperation with Northern Data AG in the areas of artificial intelligence development, blockchain technology, and datacenter operations. Canaan Inc. is currently focused on the research and development of advanced technology, including such areas as AI chips, AI algorithms, AI architectures, system on a chip (SoC) integration and chip integration. The next few weeks could decide your wealth in 2021. Compare Top Brokerages Here. The Company defines adjusted net loss as net loss excluding share­based compensation expense. Net loss narrowed to RMB215.1 million (US$33.0 million) from RMB1,034.5 million in 2019.Non-GAAP adjusted net loss narrowed to RMB212.1 million (US$32.5 million) from RMB764.3 million in 2019. Canaan Inc. also provides a suite of AI service solutions and is able to tailor these solutions to the needs of its partners. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB6.5250 to US$1.00, the noon buying rate in effect on December 31, 2020, in the H.10 statistical release of the Federal Reserve Board. Canaan Inc. (CAN) stock is taking off on Tuesday with heavy trading of its shares despite a lack of news concerning the company. Email Alerts. Our Accessibility Statement | Terms of Service | Do Not Sell My Information. MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools. Canaan had almost nothing to show for its fourth-quarter efforts. Get daily stock ideas top-performing Wall Street analysts. What this means: InvestorsObserver gives Canaan Inc ADR (CAN) an overall rank of 40, which is below average. Learn about financial terms, types of investments, trading strategies and more. Kendryte K210. Print Page. USD 19.25 0.53 2.68% Canaan Inc ADR stock price prediction is an act of determining the future value of Canaan Inc shares using few different conventional methods such as EPS estimation, analyst consensus, or fundamental intrinsic valuation. 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