Canaan Inc ADR (NASDAQ: CAN)’s stock price has soared by 11.49 in relation to previous closing price of 1.48. Nevertheless, the company has seen a gain of 30.95% in its stock price over the last five trading days. accesswire.com reported 2024-11-15 that TORONTO, ON / ACCESSWIRE / November 15, 2024 / Theralase® Technologies Inc. (“Theralase®” or the “Company”) (TSXV:TLT)(OTCQB:TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light, radiation, sound and/or drug-activated small molecules and their formulations, intended for the safe and effective destruction of various cancers, bacteria and viruses, is pleased to announce that it has successfully closed a non-brokered private placement offering (“Offering”) of units (“Units”). On closing, the Corporation issued an aggregate of 2,221,334 Units at a price of $CAN 0.30 per Unit for aggregate gross proceeds of approximately $CAN 666,400.
Is It Worth Investing in Canaan Inc ADR (NASDAQ: CAN) Right Now?
The 36-month beta value for CAN is also noteworthy at 3.09. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for CAN is 149.26M, and at present, short sellers hold a 15.71% of that float. The average trading volume of CAN on November 18, 2024 was 7.14M shares.
CAN’s Market Performance
CAN’s stock has seen a 30.95% increase for the week, with a 72.58% rise in the past month and a 68.99% gain in the past quarter. The volatility ratio for the week is 22.34%, and the volatility levels for the past 30 days are at 13.44% for Canaan Inc ADR The simple moving average for the last 20 days is 27.65% for CAN’s stock, with a simple moving average of 41.90% 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 48.09% 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 -52.86% of loss for the given period.
Volatility was left at 13.44%, however, over the last 30 days, the volatility rate increased by 22.34%, as shares surge +67.31% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +80.05% upper at present.
During the last 5 trading sessions, CAN rose by +30.95%, which changed the moving average for the period of 200-days by +19.57% in comparison to the 20-day moving average, which settled at $1.2926. In addition, Canaan Inc ADR saw -28.57% 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 -330.11 million with net debt to EBITDA at 0.17. When we switch over and look at the enterprise to sales, we see a ratio of 1.66. 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 summary, Canaan Inc ADR (CAN) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing 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.
