Market cap of Canaan Inc. [CAN] reaches 511.56M – now what?

Canaan Inc. [NASDAQ: CAN] stock went on an upward path that rose over 23.68% on Monday, amounting to a one-week price increase of more than 30.04%. The company report on September 8, 2020 that Canaan Inc. Announces Up to US$10 Million Share Repurchase Program.

Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$10 million worth of its outstanding (i) American depositary shares (“ADSs”), each representing 15 Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from September 22, 2020.

Under the share repurchase program, the Company may repurchase its ADSs from time to time through open market transactions at prevailing market prices, privately negotiated transactions, block trades or any combination thereof. In addition, Canaan will also effect repurchase transactions in compliance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and its insider trading policy. The number of ADSs repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with Canaan’s working capital requirements and general business conditions. The Company’s board of directors and/or its management will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company plans to fund the repurchases from its existing cash balance.

The market cap for the stock reached $511.56 million, with 156.68 million shares outstanding and 131.56 million shares in the current float. Compared to the average trading volume of 2.23M shares, CAN stock reached a trading volume of 25534085 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Canaan Inc. [CAN]:

The Average True Range (ATR) for Canaan Inc. is set at 0.24, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 2.45. The Price to Book ratio for the last quarter was 5.31, with the Price to Cash per share for the same quarter was set at 0.49.

CAN Stock Performance Analysis:

Canaan Inc. [CAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 30.04. With this latest performance, CAN shares gained by 74.07% in over the last four-week period, additionally sinking by -24.71% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CAN stock in for the last two-week period is set at 79.77, with the RSI for the last a single of trading hit 84.65, and the three-weeks RSI is set at 74.67 for Canaan Inc. [CAN]. The present Moving Average for the last 50 days of trading for this stock 2.07, while it was recorded at 2.72 for the last single week of trading, and 3.01 for the last 200 days.

Insight into Canaan Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Canaan Inc. [CAN] shares currently have an operating margin of -74.04 and a Gross Margin at -37.10. Canaan Inc.’s Net Margin is presently recorded at -72.72.

Return on Total Capital for CAN is now -98.67, given the latest momentum, and Return on Invested Capital for the company is -219.39. Return on Equity for this stock declined to -222.53, with Return on Assets sitting at -86.38. When it comes to the capital structure of this company, Canaan Inc. [CAN] has a Total Debt to Total Equity ratio set at 21.74. Additionally, CAN Total Debt to Total Capital is recorded at 17.86, with Total Debt to Total Assets ending up at 15.19. Long-Term Debt to Equity for the company is recorded at 1.93, with the Long-Term Debt to Total Capital now at 1.59.

Reflecting on the efficiency of the workforce at the company, Canaan Inc. [CAN] managed to generate an average of -$449,595 per employee. Receivables Turnover for the company is 8.90 with a Total Asset Turnover recorded at a value of 1.19.Canaan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 3.20.

Canaan Inc. [CAN] Insider Position Details

17 institutional holders increased their position in Canaan Inc. [NASDAQ:CAN] by around 5,097,489 shares. Additionally, 5 investors decreased positions by around 465,085 shares, while 1 investors held positions by with 900,705 shares. The mentioned changes placed institutional holdings at 6,463,279 shares, according to the latest SEC report filing. CAN stock had 10 new institutional investments in for a total of 3,688,989 shares, while 3 institutional investors sold positions of 426,172 shares during the same period.

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