The 36-month beta value for CAN is at 3.09. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CAN is 149.26M, and currently, shorts hold a 15.90% of that float. The average trading volume for CAN on September 23, 2024 was 5.38M shares.
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CAN) stock’s latest price update
Canaan Inc ADR (NASDAQ: CAN)’s stock price has decreased by -6.64 compared to its previous closing price of 1.01. However, the company has seen a -8.46% decrease 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.
CAN’s Market Performance
CAN’s stock has fallen by -8.46% in the past week, with a monthly drop of -2.46% and a quarterly drop of -8.46%. The volatility ratio for the week is 6.66% while the volatility levels for the last 30 days are 7.36% for Canaan Inc ADR The simple moving average for the last 20 days is -4.46% for CAN stock, with a simple moving average of -28.86% for the last 200 days.
Analysts’ Opinion of CAN
Many brokerage firms have already submitted their reports for CAN stocks, with B. Riley Securities repeating the rating for CAN by listing it as a “Buy.” The predicted price for CAN in the upcoming period, according to B. Riley Securities is $2 based on the research report published on September 18, 2024 of the current year 2024.
Rosenblatt, on the other hand, stated in their research note that they expect to see CAN reach a price target of $3. The rating they have provided for CAN stocks is “Buy” according to the report published on September 11th, 2024.
H.C. Wainwright gave a rating of “Buy” to CAN, setting the target price at $5 in the report published on July 06th of the previous year.
CAN Trading at -4.95% 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 -73.06% of loss for the given period.
Volatility was left at 7.36%, however, over the last 30 days, the volatility rate increased by 6.66%, as shares sank -2.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.81% lower at present.
During the last 5 trading sessions, CAN fell by -6.31%, which changed the moving average for the period of 200-days by -37.74% in comparison to the 20-day moving average, which settled at $0.9856. In addition, Canaan Inc ADR saw -59.18% 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:
- -1.57 for the present operating margin
- -0.93 for the gross margin
The net margin for Canaan Inc ADR stands at -1.57. The total capital return value is set at -0.94. Equity return is now at value -74.69, with -56.46 for asset returns.
The debt to equity ratio resting at 0.05. The interest coverage ratio of the stock is -27475.31.
Currently, EBITDA for the company is -330.83 million with net debt to EBITDA at 0.13. When we switch over and look at the enterprise to sales, we see a ratio of 0.92. The receivables turnover for the company is 29.99for trailing twelve months and the total asset turnover is 0.47. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.83.
Conclusion
In conclusion, Canaan Inc ADR (CAN) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
