Additionally, the 36-month beta value for CAN is 3.08. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The average price predicted by analysts for CAN is $34.64, which is $3.06 above the current price. The public float for CAN is 149.26M and currently, short sellers hold a 7.92% ratio of that float. The average trading volume of CAN on November 20, 2023 was 2.22M shares.
CAN) stock’s latest price update
Canaan Inc ADR (NASDAQ: CAN)’s stock price has gone decline by -0.58 in comparison to its previous close of 1.71, however, the company has experienced a 5.59% increase in its stock price over the last five trading days. PRNewsWire reported 2023-11-20 that SINGAPORE, Nov. 20, 2023 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced that it plans to report its financial results for the third quarter ended September 30, 2023, before the U.S. market opens on November 28, 2023. The Company’s management team will hold a conference call at 8:00 A.M.
CAN’s Market Performance
Canaan Inc ADR (CAN) has seen a 5.59% rise in stock performance for the week, with a 0.59% gain in the past month and a -16.26% plunge in the past quarter. The volatility ratio for the week is 5.83%, and the volatility levels for the past 30 days are at 8.17% for CAN. The simple moving average for the last 20 days is -5.71% for CAN’s stock, with a simple moving average of -28.49% 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 06, 2022 of the previous year 2022.
CAN Trading at -6.18% 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 -57.29% of loss for the given period.
Volatility was left at 8.17%, however, over the last 30 days, the volatility rate increased by 5.83%, as shares sank -0.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.31% lower at present.
During the last 5 trading sessions, CAN rose by +5.90%, which changed the moving average for the period of 200-days by -52.64% in comparison to the 20-day moving average, which settled at $1.8027. In addition, Canaan Inc ADR saw -17.48% 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:
- +8.57 for the present operating margin
- +34.93 for the gross margin
The net margin for Canaan Inc ADR stands at +11.11. The total capital return value is set at 9.61, while invested capital returns managed to touch 12.50. Equity return is now at value -43.90, with -33.85 for asset returns.
Based on Canaan Inc ADR (CAN), the company’s capital structure generated 0.62 points at debt to equity in total, while total debt to capital is 0.61. Total debt to assets is 0.55, with long-term debt to equity ratio resting at 0.24. Finally, the long-term debt to capital ratio is 0.24.
When we switch over and look at the enterprise to sales, we see a ratio of 0.48, with the company’s debt to enterprise value settled at 0.01. The receivables turnover for the company is 11.24 and the total asset turnover is 0.83. The liquidity ratio also appears to be rather interesting for investors as it stands at 7.30.
In conclusion, Canaan Inc ADR (CAN) has seen mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.