Canaan Inc ADR (NASDAQ: CAN) is -65.89% lower on its value in year-to-date trading and has touched a low of $0.53 and a high of $3.27 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 $0.68 in the last trading session, with the day’s gains setting it 0.02%.
Currently trading at $0.70, the stock is -5.43% and -13.74% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 30.11 million and changing 2.28% at the moment leaves the stock -47.91% off its SMA200. CAN registered -42.69% loss for a year compared to 6-month loss of -54.30%. The firm has a 50-day simple moving average (SMA 50) of $0.8107 and a 200-day simple moving average (SMA200) of $1.34225.
The stock witnessed a -11.77% gain in the last 1 month and extending the period to 3 months gives it a -58.13%, and is -8.16% 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 7.03% over the week and 7.19% over the month.
Canaan Inc ADR (CAN) has around 463 employees, a market worth around $200.56M and $317.01M in sales. Fwd P/E is 2.18. Profit margin for the company is -93.62%. Distance from 52-week low is 30.76% and -78.62% from its 52-week high. The company has generated returns on investments over the last 12 months (-111.38%).
The EPS is expected to grow by 96.47% this year
113.0 institutions hold shares in Canaan Inc ADR (CAN), with institutional investors hold 22.24% of the company’s shares. The shares outstanding are 286.84M, and float is at 267.47M with Short Float at 8.11%. Institutions hold 22.24% of the Float.
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 0.2371 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 0.2207 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 5.55 million shares representing 0.1347 and valued at over $5.55 million, while MIRAE ASSET GLOBAL ETFS HOLDINGS LTD. holds 0.1344 of the shares totaling 5.54 million with a market value of $5.53 million.
