---
title: "Weekly Recap | Canaan -6.5%, Q2 revenue nearly halved"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/298799631.md"
description: "Canaan (CAN) fell 6.5% this week to close at $0.3366, underperforming the S&P 500 by about 5.7 percentage points. The four-day week started soft: Tuesday opened higher but closed at $0.3232, Wednesday slipped below $0.32, and Thursday touched $0.2916 before settling at $0.3087. Friday’s session recovered to $0.3366 on higher volume. Weekly amplitude hit 20.12%, and average daily turnover more than doubled the 60-day median."
datetime: "2026-09-12T07:48:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/298799631.md)
  - [en](https://longbridge.com/en/news/298799631.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/298799631.md)
generator: "portal-rs"
---

# Weekly Recap | Canaan -6.5%, Q2 revenue nearly halved

## The Week

Canaan (CAN) fell 6.5% this week to close at $0.3366, underperforming the S&P 500 by about 5.7 percentage points. The four-day week started soft: Tuesday opened higher but closed at $0.3232, Wednesday slipped below $0.32, and Thursday touched $0.2916 before settling at $0.3087. Friday’s session recovered to $0.3366 on higher volume. Weekly amplitude hit 20.12%, and average daily turnover more than doubled the 60-day median.

## Key Events

The week centred on Canaan’s second-quarter results. Before Tuesday’s open, the company reported unaudited financials: GAAP EPS came in at -$0.90 and revenue at $31.9 million, down 49% year over year, both below market estimates. The net loss widened to $97.6 million. Management noted self-mining accounted for 55% of revenue and said share buybacks are continuing. The earnings call followed the release and drove much of the week’s coverage. Broader crypto-adjacent volatility was also in play with U.S. inflation data and the ECB rate decision on the radar.

## Analyst Ratings

All five covering brokers rate Canaan buy, for a consensus strong buy. The consensus target sits at $1.57, around 366% above the current price. Targets range from $0.75 to $2.10, a wide spread that reflects differing assumptions. Within the hardware, storage and peripherals industry, Canaan ranks 16th out of 32 names by rating position.

## The Week Ahead

Macro data dominates next week. On Tuesday, the New York Fed manufacturing index lands with a prior of 20.6 and forecast of 14.75. Wednesday brings retail sales, import prices, NAHB housing market index and EIA crude inventories. Crypto-adjacent names may stay sensitive to risk appetite as these prints land.

## In Short

This week paired weak fundamentals with a resilient tape. Revenue nearly halved year over year and losses widened, yet the stock rebounded quickly after Thursday’s $0.2916 low, the consensus rating remains strong buy, and the stock trades at 0.77x book. The latest session showed net selling from large-lot money. What matters next is whether the macro calendar shifts risk appetite and whether buybacks and self-mining begin to improve the earnings structure.

*This article is generated by LongbridgeAI from market data, for information only and not investment advice.*

### Related Stocks

- [CAN.US](https://longbridge.com/en/quote/CAN.US.md)

## Related News & Research

- [Canaan Converts Crypto Treasury Into Buybacks as August 2026 Mining Output Holds Steady](https://longbridge.com/en/news/298929885.md)
- [Canaan to Use Digital Asset Treasury for Share Buybacks Amid Undervaluation Signal](https://longbridge.com/en/news/294842652.md)
- [McDonald's Stock (MCD) Looks Tastier as It Gets Set For Another Value Meals Revamp](https://longbridge.com/en/news/299444824.md)
- [Intel (INTC) Stock Looks Above Fair Value After Its 256% Run](https://longbridge.com/en/news/299431661.md)
- [Amazon's secret weapon against Walmart could be a massive blitz in same-day delivery](https://longbridge.com/en/news/299352757.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**