Canaan Inc. (NASDAQ:CAN) went up by 0.65% from its latest closing price compared to the recent 1-year high of $11.19. The company’s stock price has collected -6.08% of loss in the last five trading sessions.
Is It Worth Investing in Canaan Inc. (NASDAQ :CAN) Right Now?
Canaan Inc. (NASDAQ:CAN) scored a price-to-earnings ratio above its average ratio, recording 1.32 x from its present earnings ratio. Opinions of the stock are interesting as 4 analysts out of 4 who provided ratings for Canaan Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 0 rated it as “hold,” and 0 as “sell.”
The average price from analysts is $52.73, which is $4.66 above the current price. CAN currently public float of 158.33M and currently shorts hold a 5.88% ratio of that float. Today, the average trading volume of CAN was 1.83M shares.
CAN’s Market Performance
CAN stocks went down by -6.08% for the week, with a monthly drop of -9.91% and a quarterly performance of -2.52%, while its annual performance rate touched -57.50%. The volatility ratio for the week stands at 4.34% while the volatility levels for the past 30 days are set at 5.96% for Canaan Inc. The simple moving average for the period of the last 20 days is -8.05% for CAN stocks with a simple moving average of -28.29% for the last 200 days.
Analysts’ Opinion of CAN
Many brokerage firms have already submitted their reports for CAN stocks, with H.C. Wainwright repeating the rating for CAN by listing it as a “Buy.” The predicted price for CAN in the upcoming period, according to H.C. Wainwright is $5 based on the research report published on July 06th of the current year 2022.
The Benchmark Company, on the other hand, stated in their research note that they expect to see CAN reach a price target of $9. The rating they have provided for CAN stocks is “Buy” according to the report published on June 08th, 2022.
DA Davidson gave a rating of “Buy” to CAN, setting the target price at $15 in the report published on April 05th of the current year.
CAN Trading at -17.21% from the 50-Day Moving Average
After a stumble in the market that brought CAN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -72.39% of loss for the given period.
Volatility was left at 5.96%, however, over the last 30 days, the volatility rate increased by 4.34%, as shares sank -11.46% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -18.47% lower at present.
During the last 5 trading sessions, CAN fell by -6.08%, which changed the moving average for the period of 200-days by -49.01% in comparison to the 20-day moving average, which settled at $3.34. In addition, Canaan Inc. saw -40.00% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for CAN
Current profitability levels for the company are sitting at:
- +36.69 for the present operating margin
- +56.98 for the gross margin
The net margin for Canaan Inc. stands at +40.11. Equity return is now at value 76.90, with 51.00 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 2.53.