Sunday, March 7, 2021

Canaan Inc. [CAN] gain 19.06% so far this year. What now?

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Canaan Inc. [NASDAQ: CAN] gained 17.28% or 1.04 points to close at $7.06 with a heavy trading volume of 14668208 shares. The company report on November 30, 2020 that Canaan Inc. Reports Unaudited Third Quarter 2020 Financial Results.

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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.


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Third Quarter 2020 Operating and Financial Highlights.

The daily chart for CAN points out that the company has recorded 196.64% gains over the past six months.

If we look at the average trading volume of 10.40M shares, CAN reached to a volume of 14668208 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Canaan Inc. [CAN]:

The Average True Range (ATR) for Canaan Inc. is set at 0.73, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 7.68. The Price to Book ratio for the last quarter was 13.07, with the Price to Cash per share for the same quarter was set at 0.40.

Trading performance analysis for CAN stock

Canaan Inc. [CAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 44.67. With this latest performance, CAN shares gained by 8.62% in over the last four-week period, additionally plugging by 196.64% over the last 6 months – not to mention a rise of 55.16% 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 69.27, with the RSI for the last a single of trading hit 75.75, and the three-weeks RSI is set at 65.83 for Canaan Inc. [CAN]. The present Moving Average for the last 50 days of trading for this stock 4.84, while it was recorded at 5.90 for the last single week of trading, and 3.15 for the last 200 days.

Canaan Inc. [CAN]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Canaan Inc. [CAN]

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19 institutional holders increased their position in Canaan Inc. [NASDAQ:CAN] by around 4,194,672 shares. Additionally, 7 investors decreased positions by around 937,084 shares, while 1 investors held positions by with 2,704,869 shares. The mentioned changes placed institutional holdings at 7,836,625 shares, according to the latest SEC report filing. CAN stock had 12 new institutional investments in for a total of 2,786,172 shares, while 4 institutional investors sold positions of 459,525 shares during the same period.

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