Moreover, the 36-month beta value for CAN is 3.11. Analysts have varying 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 18.01% of that float. On April 22, 2024, CAN’s average trading volume was 16.85M shares.
CAN) stock’s latest price update
The stock price of Canaan Inc ADR (NASDAQ: CAN) has plunged by -18.25 when compared to previous closing price of 0.92, but the company has seen a -37.32% decline in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-18 that Canaan (NASDAQ: CAN ) stock is falling on Thursday following the release of the crypto mining equipment company’s annual report for 2023. Canaan’s annual report includes several warnings about its business operations.
CAN’s Market Performance
Canaan Inc ADR (CAN) has experienced a -37.32% fall in stock performance for the past week, with a -52.99% drop in the past month, and a -58.21% drop in the past quarter. The volatility ratio for the week is 15.30%, and the volatility levels for the past 30 days are at 9.57% for CAN. The simple moving average for the past 20 days is -41.98% for CAN’s stock, with a -60.87% 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 -50.64% 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 -78.51% of loss for the given period.
Volatility was left at 9.57%, however, over the last 30 days, the volatility rate increased by 15.30%, as shares sank -51.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -41.23% lower at present.
During the last 5 trading sessions, CAN fell by -37.32%, which changed the moving average for the period of 200-days by -66.86% in comparison to the 20-day moving average, which settled at $1.2566. In addition, Canaan Inc ADR saw -67.44% 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 -62.28. 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 -241.77 million with net debt to EBITDA at 0.31. When we switch over and look at the enterprise to sales, we see a ratio of 0.39. 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 2.63.
Conclusion
To wrap up, the performance of Canaan Inc ADR (CAN) has been bad in recent times. The stock has received a mixed of “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.
