Canaan Inc. (NASDAQ: CAN) is -47.96% lower on its value in year-to-date trading and has touched a low of $2.46 and a high of $9.88 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CAN stock was last observed hovering at around $2.52 in the last trading session, with the day’s gains setting it 0.16% off its average median price target of $52.79 for the next 12 months. It is also 95.77% off the consensus price target high of $63.35 offered by 4 analysts, but current levels are 90.48% higher than the price target low of $28.16 for the same period.
Currently trading at $2.68, the stock is -9.90% and -14.00% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.5 million and changing 6.35% at the moment leaves the stock -31.03% off its SMA200. CAN registered -70.06% loss for a year compared to 6-month gain of -10.07%.
The stock witnessed a -14.10% loss in the last 1 month and extending the period to 3 months gives it a -22.77%, and is -14.65% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.08% over the week and 9.01% over the month.
Canaan Inc. (CAN) has around 346 employees, a market worth around $497.35M and $862.50M in sales. Current P/E ratio is 1.37 and Fwd P/E is 5.46. Profit margin for the company is 38.90%. Distance from 52-week low is 8.94% and -72.87% from its 52-week high. The company has generated returns on investments over the last 12 months (51.40%).
Canaan Inc. (CAN) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Canaan Inc. (CAN) is a “Buy”. 4 analysts offering their recommendations for the stock have an average rating of 1.80, where 0 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Canaan Inc. is expected to release its quarterly report on 04/12/2023.The EPS is expected to grow by 946.70% this year.
Canaan Inc. (CAN) Top Institutional Holders
The shares outstanding are 170.72M, and float is at 156.84M with Short Float at 5.29%.