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We Analyzed the Future Direction of Canaan Inc. (CAN), Here is What We Found

Canaan Inc. (NASDAQ:CAN) went up by 7.01% from its latest closing price compared to the recent 1-year high of $6.90. The company’s stock price has collected 13.90% of gains 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 1.62 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.”

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The average price from analysts is $49.27, which is $3.64 above the current price. CAN currently public float of 137.37M and currently shorts hold a 6.60% ratio of that float. Today, the average trading volume of CAN was 1.98M shares.

CAN’s Market Performance

CAN stocks went up by 13.90% for the week, with a monthly jump of 54.13% and a quarterly performance of 6.67%, while its annual performance rate touched -33.33%. The volatility ratio for the week stands at 10.70% while the volatility levels for the past 30 days are set at 9.68% for Canaan Inc. The simple moving average for the period of the last 20 days is 38.90% for CAN stocks with a simple moving average of 1.23% 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 previous 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 previous year.

CAN Trading at 34.01% 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 -51.30% of loss for the given period.

Volatility was left at 9.68%, however, over the last 30 days, the volatility rate increased by 10.70%, as shares surge +57.75% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.68% upper at present.

During the last 5 trading sessions, CAN rose by +13.90%, which changed the moving average for the period of 200-days by -46.33% in comparison to the 20-day moving average, which settled at $2.48. In addition, Canaan Inc. saw 63.11% in overturn over a single year, with a tendency to cut further gains.

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 56.40, with 40.60 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 2.53.

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