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

Canaan Inc ADR (NASDAQ: CAN) is -39.39% lower on its value in year-to-date trading and has touched a low of $1.13 and a high of $3.50 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 $1.52 in the last trading session, with the day’s loss setting it -0.12%.

Currently trading at $1.40, the stock is -3.75% and -12.82% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.69 million and changing -7.89% at the moment leaves the stock -29.52% off its SMA200. CAN registered -47.17% loss for a year compared to 6-month loss of -19.54%. The firm has a 50-day simple moving average (SMA 50) of $1.10 and a 200-day simple moving average (SMA200) of -$0.61.

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The stock witnessed a -10.83% gain in the last 1 month and extending the period to 3 months gives it a -50.18%, and is -1.41% 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 9.77% over the week and 10.78% over the month.

Profit margin for the company is -195.84%. Distance from 52-week low is 23.89% and -60.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-118.87%).

Canaan Inc ADR quarterly earnings per share for the current quarter are estimated at -$0.36 with sales reaching $30.23M over the same period.The EPS is expected to grow by 50.61% this year, but quarterly earnings will post 20.30% year-over-year. Quarterly sales are estimated to shrink -39.70% in year-over-year returns.

Canaan Inc ADR (CAN) Top Institutional Holders

118 institutions hold shares in Canaan Inc ADR (CAN), with institutional investors hold 21.15% of the company’s shares. The shares outstanding are 150.27M, and float is at 149.26M with Short Float at 15.55%. Institutions hold 21.15% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 6.17 million shares valued at $13.14 million. The investor’s holdings represent 3.63% of the CAN Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 3.46 million shares valued at $7.38 million to account for 2.04% of the shares outstanding. The other top investors are State Street Corporation which holds 3.39 million shares representing 1.99% and valued at over $7.22 million, while Toroso Investments, LLC holds 1.71% of the shares totaling 2.91 million with a market value of $6.2 million.

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