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

Canaan Inc ADR (NASDAQ: CAN) is -59.31% lower on its value in year-to-date trading and has touched a low of $0.72 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 $1.01 in the last trading session, with the day’s loss setting it -0.07%.

Currently trading at $0.94, the stock is -4.76% and -5.26% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 10.12 million and changing -6.94% at the moment leaves the stock -29.09% off its SMA200. CAN registered -47.49% loss for a year compared to 6-month loss of -33.81%.

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The stock witnessed a -2.77% gain in the last 1 month and extending the period to 3 months gives it a -8.75%, and is -8.75% 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 8.57% over the week and 7.84% over the month.

Canaan Inc ADR (CAN) has around 445 employees, a market worth around $250.92M and $189.34M in sales. Profit margin for the company is -158.65%. Distance from 52-week low is 30.54% and -73.15% from its 52-week high. The company has generated returns on investments over the last 12 months (-75.25%).

The EPS is expected to grow by 77.30% this year.

Canaan Inc ADR (CAN) Top Institutional Holders

The shares outstanding are 213.56M, and float is at 149.26M with Short Float at 15.90%.

The top institutional shareholder in the company is VAN ECK ASSOCIATES CORP with over 9.76 million shares valued at $9.76 million. The investor’s holdings represent 3.9371% of the CAN Shares outstanding. As of 2024-06-30, the second largest holder is STATE STREET CORP with 9.09 million shares valued at $9.09 million to account for 3.6646 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 5.55 million shares representing 2.2371% and valued at over $5.55 million, while MIRAE ASSET GLOBAL ETFS HOLDINGS LTD. holds 2.2321 of the shares totaling 5.54 million with a market value of $5.53 million.