The stock of Canaan Inc ADR (CAN) has seen a 35.95% increase in the past week, with a 114.19% gain in the past month, and a 101.94% flourish in the past quarter. The volatility ratio for the week is 16.78%, and the volatility levels for the past 30 days are at 16.48% for CAN. The simple moving average for the last 20 days is 36.44% for CAN stock, with a simple moving average of 77.03% for the last 200 days.
Is It Worth Investing in Canaan Inc ADR (NASDAQ: CAN) Right Now?
Additionally, the 36-month beta value for CAN is 3.19. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 1 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 currently, short sellers hold a 15.71% ratio of that float. The average trading volume of CAN on November 26, 2024 was 8.55M shares.
CAN) stock’s latest price update
Canaan Inc ADR (NASDAQ: CAN)’s stock price has plunge by 5.58relation to previous closing price of 1.97. Nevertheless, the company has seen a 35.95% surge in its stock price over the last five trading sessions. zacks.com reported 2024-11-22 that From a technical perspective, Canaan Inc. Sponsored ADR (CAN) is looking like an interesting pick, as it just reached a key level of support. CAN’s 50-day simple moving average crossed above its 200-day simple moving average, which is known as a “golden cross” in the trading world.
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 71.66% 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 -40.57% of loss for the given period.
Volatility was left at 16.48%, however, over the last 30 days, the volatility rate increased by 16.78%, as shares surge +96.23% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +101.94% upper at present.
During the last 5 trading sessions, CAN rose by +35.95%, which changed the moving average for the period of 200-days by +30.00% in comparison to the 20-day moving average, which settled at $1.5200. In addition, Canaan Inc ADR saw -9.96% 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:
- -1.15 for the present operating margin
- -0.63 for the gross margin
The net margin for Canaan Inc ADR stands at -1.34. The total capital return value is set at -0.94. Equity return is now at value -87.12, with -61.24 for asset returns.
The debt to equity ratio resting at 0.08. The interest coverage ratio of the stock is -1259.48.
Currently, EBITDA for the company is -330.11 million with net debt to EBITDA at 0.18. When we switch over and look at the enterprise to sales, we see a ratio of 1.84. The receivables turnover for the company is 29.58for trailing twelve months and the total asset turnover is 0.57. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.03.
Conclusion
In conclusion, Canaan Inc ADR (CAN) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
