The stock price of Canaan Inc ADR (NASDAQ: CAN) has surged by 15.30 when compared to previous closing price of 0.93, but the company has seen a 16.76% gain in its stock price over the last five trading sessions. zacks.com reported 2024-09-13 that Canaan (CAN) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock’s potential for a turnaround in the near term.
Is It Worth Investing in Canaan Inc ADR (NASDAQ: CAN) Right Now?
The stock has a 36-month beta value of 3.08. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for CAN is 149.26M, and at present, short sellers hold a 15.90% of that float. On September 16, 2024, the average trading volume of CAN was 5.67M shares.
CAN’s Market Performance
CAN’s stock has seen a 16.76% increase for the week, with a 28.54% rise in the past month and a 3.88% gain in the past quarter. The volatility ratio for the week is 7.86%, and the volatility levels for the past 30 days are at 8.36% for Canaan Inc ADR The simple moving average for the past 20 days is 12.54% for CAN’s stock, with a -20.31% simple moving average for the past 200 days.
Analysts’ Opinion of CAN
Many brokerage firms have already submitted their reports for CAN stocks, with Rosenblatt repeating the rating for CAN by listing it as a “Buy.” The predicted price for CAN in the upcoming period, according to Rosenblatt is $3 based on the research report published on September 11, 2024 of the current year 2024.
H.C. Wainwright, on the other hand, stated in their research note that they expect to see CAN reach a price target of $5. The rating they have provided for CAN stocks is “Buy” according to the report published on July 06th, 2022.
The Benchmark Company gave a rating of “Buy” to CAN, setting the target price at $9 in the report published on June 08th of the previous year.
CAN Trading at 8.43% 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 -69.43% of loss for the given period.
Volatility was left at 8.36%, however, over the last 30 days, the volatility rate increased by 7.86%, as shares surge +29.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.94% upper at present.
During the last 5 trading sessions, CAN rose by +16.76%, which changed the moving average for the period of 200-days by -36.69% in comparison to the 20-day moving average, which settled at $0.9628. In addition, Canaan Inc ADR saw -53.68% 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:
- -1.66 for the present operating margin
- -0.95 for the gross margin
The net margin for Canaan Inc ADR stands at -1.59. The total capital return value is set at -0.77. Equity return is now at value -74.69, with -56.46 for asset returns.
Based on Canaan Inc ADR (CAN), the company’s capital structure generated 0.05 points at debt to capital in total, while cash flow to debt ratio is standing at -0.54. The debt to equity ratio resting at 0.05. The interest coverage ratio of the stock is -22392.36.
Currently, EBITDA for the company is -241.77 million with net debt to EBITDA at 0.22. When we switch over and look at the enterprise to sales, we see a ratio of 1.31. The receivables turnover for the company is 23.21for trailing twelve months and the total asset turnover is 0.36. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.83.
Conclusion
To sum up, Canaan Inc ADR (CAN) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others 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.
