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Canaan Inc. (CAN) Stock Could Soon Reward Patient Investors

Canaan Inc. (NASDAQ: CAN) is 61.65% higher on its value in year-to-date trading and has touched a low of $1.87 and a high of $6.90 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CAN stock was last observed hovering at around $3.36 in the last trading session, with the day’s loss setting it -0.03%.

Currently trading at $3.33, the stock is 34.25% and 32.36% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.73 million and changing -0.89% at the moment leaves the stock 0.77% off its SMA200. CAN registered -23.45% loss for a year compared to 6-month loss of -15.70%.

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The stock witnessed a 56.34% gain in the last 1 month and extending the period to 3 months gives it a 3.10%, and is 7.42% up 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 9.51% over the week and 9.70% over the month.

Canaan Inc. (CAN) has around 346 employees, a market worth around $499.83M and $911.10M in sales. Current P/E ratio is 1.61 and Fwd P/E is 2.87. Profit margin for the company is 38.90%. Distance from 52-week low is 78.07% and -51.74% from its 52-week high. The company has generated returns on investments over the last 12 months (51.40%).

Canaan Inc. is expected to release its quarterly report on 05/26/2023.The EPS is expected to grow by 946.70% this year.

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The shares outstanding are 170.72M, and float is at 137.37M with Short Float at 6.60%.

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