Canaan Inc ADR (NASDAQ:CAN) shares, rose in value, with the stock price down by -6.19% to the previous day’s close as strong demand from buyers drove the stock to $0.93.
Actively observing the price movement in the last trading, the stock closed the session at $0.99. Referring to stock’s 52-week performance, its high was $3.50, and the low was $0.75. On the whole, CAN has fluctuated by -34.04% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 254.51M, with a low estimate of 30.1M and a high estimate of 30.36M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 30.23M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CAN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CAN currently trading nearly -21.70% and -36.76% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.28, while the 7-day volatility ratio is showing 18.44% which for the 30-day chart, stands at 11.05%. Furthermore, Canaan Inc ADR (CAN)’s beta value is 3.08, and its average true range (ATR) is 0.14.
A comparison of Canaan Inc ADR (CAN) with its peers suggests the former has fared considerably weaker in the market. CAN showed an intraday change of -6.19% in last session, and over the past year, it shrunk by -61.25%%.
Data on historical trading for Canaan Inc ADR (NASDAQ:CAN) indicates that the trading volumes over the past 3 months, they’ve averaged 17.28 million. According to company’s latest data on outstanding shares, there are 213.56 million shares outstanding.
Canaan Inc ADR’s shares belong to company insiders and institutional investors own 21.44% of the company’s shares. The stock has fallen by -59.74% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CAN stock heading into the next quarter.
