Canaan Inc. (CAN) reported a sharp jump in second-quarter 2026 revenue to $2.4 billion, up more than 20-fold from a year earlier. Gross profit also improved to $1.2 billion, while operating profit climbed to $208.3 million, showing significantly stronger operating performance.
The company still posted a net loss attributable to common shareholders of $97.6 million, though that was a notable improvement from the prior year. Diluted loss per share was $(0.135).
Other key highlights from the quarter included:
Capital spending remained light, with purchases of property, plant and equipment totaling just $2.8 million. The results point to strong top-line growth and improving profitability, even as the company remained in the red on a net basis.
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
Canaan Inc. Hedge Fund Activity
We have seen 39 institutional investors add shares of Canaan Inc. stock to their portfolio, and 52 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- INVESCO LTD. added 11,839,448 shares (+41.5%) to their portfolio in Q2 2026, for an estimated $3,399,105
- STATE STREET CORP removed 8,132,587 shares (-94.1%) from their portfolio in Q2 2026, for an estimated $2,334,865
- BREVAN HOWARD CAPITAL MANAGEMENT LP removed 8,060,565 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $2,314,188
- SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 7,512,078 shares (+inf%) to their portfolio in Q2 2026, for an estimated $2,156,717
- TIDAL INVESTMENTS LLC removed 5,685,763 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $2,455,112
- COMPASS ROSE ASSET MANAGEMENT, LP added 4,769,310 shares (+inf%) to their portfolio in Q2 2026, for an estimated $1,369,268
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC removed 4,239,249 shares (-36.1%) from their portfolio in Q2 2026, for an estimated $1,217,088
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
Canaan Inc. Price Targets
Multiple analysts have issued price targets for $CAN recently. We have seen 2 analysts offer price targets for $CAN in the last 6 months, with a median target of $2.15.
Here are some recent targets:
- Kevin Cassidy from Rosenblatt set a target price of $1.3 on 05/20/2026
- Gregory Lewis from BTIG set a target price of $3.0 on 05/19/2026
