Canaan Inc ADR (NASDAQ: CAN) has seen a rise in its stock price by 2.36 in relation to its previous close of 1.27. However, the company has experienced a -7.14% decline in its stock price over the last five trading sessions. InvestorPlace reported 2024-03-29 that Crypto miners are expected to take a hit to their earnings after the Bitcoin ( BTC-USD ) halving event is completed in April this year. Crypto miners get rewarded with newly minted bitcoin for contributing computing power to validate transactions on the blockchain network.
Is It Worth Investing in Canaan Inc ADR (NASDAQ: CAN) Right Now?
Company’s 36-month beta value is 3.03.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CAN is 149.26M, and currently, short sellers hold a 15.55% ratio of that floaft. The average trading volume of CAN on April 08, 2024 was 18.58M shares.
CAN’s Market Performance
CAN’s stock has seen a -7.14% decrease for the week, with a -13.91% drop in the past month and a -38.39% fall in the past quarter. The volatility ratio for the week is 7.21%, and the volatility levels for the past 30 days are at 9.92% for Canaan Inc ADR The simple moving average for the past 20 days is -6.51% for CAN’s stock, with a -33.83% simple moving average for the past 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.
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 -17.09% 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 -62.86% of loss for the given period.
Volatility was left at 9.92%, however, over the last 30 days, the volatility rate increased by 7.21%, as shares sank -16.03% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.66% lower at present.
During the last 5 trading sessions, CAN fell by -6.43%, which changed the moving average for the period of 200-days by -40.18% in comparison to the 20-day moving average, which settled at $1.3780. In addition, Canaan Inc ADR saw -43.72% 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:
- -1.91 for the present operating margin
- -1.14 for the gross margin
The net margin for Canaan Inc ADR stands at -1.96. The total capital return value is set at -1.13. Equity return is now at value -86.51, with -70.19 for asset returns.
Based on Canaan Inc ADR (CAN), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at -73.04. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is -388.49.
Currently, EBITDA for the company is 343.22 million with net debt to EBITDA at 0.23. When we switch over and look at the enterprise to sales, we see a ratio of 0.61. The receivables turnover for the company is 70.56for trailing twelve months and the total asset turnover is 0.43. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.69.
Conclusion
In a nutshell, Canaan Inc ADR (CAN) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. 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.
