Canaan Inc. [NASDAQ: CAN] traded at a low on 12/21/20, posting a -3.01 loss after which it closed the day’ session at $4.19. The company report on November 30, 2020 that Canaan Inc. Reports Unaudited Third Quarter 2020 Financial Results.
Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, announced its unaudited financial results for the three months ended September 30, 2020.
Third Quarter 2020 Operating and Financial Highlights.
The results of the trading session contributed to over 5628712 shares changing hands. Over the past one week, the price volatility of Canaan Inc. stands at 10.65% while the volatility over the past one month is 14.96%.
The market cap for CAN stock reached $645.39 million, with 156.67 million shares outstanding and 131.33 million shares in the current float. Compared to the average trading volume of 5.01M shares, CAN reached a trading volume of 5628712 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Canaan Inc. [CAN]?
The Average True Range (ATR) for Canaan Inc. is set at 0.58, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 4.83. The Price to Book ratio for the last quarter was 7.91, with the Price to Cash per share for the same quarter was set at 0.38.
How has CAN stock performed recently?
Canaan Inc. [CAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.37. With this latest performance, CAN shares gained by 20.06% in over the last four-week period, additionally plugging by 97.64% over the last 6 months – not to mention a drop of -12.16% in the past year of trading.
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 56.47, with the RSI for the last a single of trading hit 56.80, and the three-weeks RSI is set at 56.97 for Canaan Inc. [CAN]. The present Moving Average for the last 50 days of trading for this stock 3.13, while it was recorded at 4.02 for the last single week of trading, and 2.88 for the last 200 days.
Canaan Inc. [CAN]: Deeper insight into the 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 3.80 and a Current Ratio set at 4.10.
Insider trade positions for Canaan Inc. [CAN]
16 institutional holders increased their position in Canaan Inc. [NASDAQ:CAN] by around 5,064,136 shares. Additionally, 6 investors decreased positions by around 498,438 shares, while 1 investors held positions by with 867,352 shares. The mentioned changes placed institutional holdings at 6,429,926 shares, according to the latest SEC report filing. CAN stock had 9 new institutional investments in for a total of 3,655,636 shares, while 4 institutional investors sold positions of 459,525 shares during the same period.