The trading price of Canaan Inc ADR (NASDAQ:CAN) closed higher on Tuesday, March 04, and closing at $1.22, 3.39% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $3.27 and a 52-week low of $0.72. Over the past month, the stock has lost -41.06% in value.
Canaan Inc ADR, whose market valuation is $326.36 million at the time of this writing, is expected to release its quarterly earnings report in April. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -0.88 per share this quarter, however they have predicted annual earnings per share of -3.26 for current year and 0.91 for next year.
Analysts have forecast the company to bring in revenue of 646.48M for the current quarter, with the likely lows of 644.66M and highs of 648.3M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 1.96B.
On the technical side, indicators suggest CAN has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Sell.
A quick review shows that CAN’s price is currently -25.02% off the SMA20 and -36.29% off the SMA50. The RSI metric on the 14-day chart is currently showing 30.91, and weekly volatility stands at 15.88%. When measured over the past 30 days, the indicator reaches 9.92%. Canaan Inc ADR (NASDAQ:CAN)’s beta value is currently sitting at 3.43, while the Average True Range indicator is currently displaying 0.19. With analysts defining $2-$2 as the low and high price targets, we arrive at a consensus price target of $2 for the trailing 12-month period. The current price is about -63.93% off the estimated low and -63.93% off the forecast high, based on this estimate. Investors will be thrilled if CAN’s share price rises to $2, which is the median consensus price. At that level, CAN’s share price would be -63.93% below current price.
To see how Canaan Inc ADR stock has been performing in comparison to its peers in the industry, here are the numbers: CAN stock’s performance was 3.39% in the latest trading, and -22.29% in the past year.
An evaluation of the daily trading volume of Canaan Inc ADR (NASDAQ:CAN) indicates that the 3-month average is 18.10 million.
Currently, records show that 267.51 million of the company’s shares remain outstanding. The institutions hold 29.97%. However, since the stock’s price has seen -40.49% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
