The trading price of Canaan Inc ADR (NASDAQ:CAN) closed lower on Monday, May 05, and closing at $0.62, -9.53% lower 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 $0.64. Over the past month, the stock has lost -24.16% in value.
Canaan Inc ADR, whose market valuation is $178.41 million at the time of this writing, is expected to release its quarterly earnings report on 2025-Mar-25. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest CAN has a 100% 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 100% Sell, 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 -14.62% off the SMA20 and -33.88% off the SMA50. The RSI metric on the 14-day chart is currently showing 32.08, and weekly volatility stands at 8.71%. When measured over the past 30 days, the indicator reaches 9.47%. Canaan Inc ADR (NASDAQ:CAN)’s beta value is currently sitting at 3.45, while the Average True Range indicator is currently displaying 0.08. 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 -222.58% off the estimated low and -222.58% 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 -222.58% 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 -9.53% in the latest trading, and -28.78% in the past year.
An evaluation of the daily trading volume of Canaan Inc ADR (NASDAQ:CAN) indicates that the 3-month average is 14.41 million.
Currently, records show that 286.84 million of the company’s shares remain outstanding. The institutions hold 28.15%. However, since the stock’s price has seen -69.66% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
