Canaan Inc. [CAN] Revenue clocked in at $134.90 million, up 383.81% YTD: What’s Next?

Canaan Inc. [NASDAQ: CAN] closed the trading session at $28.69 on 03/09/21. The day’s price range saw the stock hit a low of $21.32, while the highest price level was $30.29. The company report on February 10, 2021 that Canaan Announces Improved Revenue Visibility in 2021.

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Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, announced that its revenue visibility has improved substantially in 2021 as a result of attaining purchase orders totaling more than 100,000 units of bitcoin mining machines from customers in North America. Many of those purchase orders were placed with prepayment and will likely occupy the Company’s current manufacturing capacity entirely for the full year of 2021 and beyond. With those fully committed purchase orders, the Company now enjoys a much higher degree of revenue visibility and more precise forecast. As such, the Company is able to leverage such information and additional liquidity to conduct its component purchases, production scheduling, warehousing and logistics.

Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, commented, “We have changed our operations model in 2021. Previously we were selling bitcoin mining machines mostly to individual mining operators who may not have longer-term planning. In late 2020, we shifted our client base to mostly publicly traded companies and bitcoin-focused investment funds which tend to place sizable orders with longer-term commitment. As a result, we can now forecast our revenue much more precisely. Our increased revenue visibility is not only enabling us to plan our production and logistics well in advance, but also helping us to optimize our cost structure and improve our customer satisfaction rate. Above all, it should help us achieve profitable growth for the long run.”.

The stocks have a year to date performance of 383.81 percent and weekly performance of 34.44 percent. The stock has been moved at 1394.27 percent over the last six months. The stock has performed 376.58 percent around the most recent 30 days and changed 673.32 percent over the most recent 3-months.

If compared to the average trading volume of 15.88M shares, CAN reached to a volume of 40325572 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Canaan Inc. [CAN]:

The Average True Range (ATR) for Canaan Inc. is set at 4.18, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 34.38. The Price to Book ratio for the last quarter was 53.13, with the Price to Cash per share for the same quarter was set at 0.36.

CAN stock trade performance evaluation

Canaan Inc. [CAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 34.44. With this latest performance, CAN shares gained by 376.58% in over the last four-week period, additionally plugging by 1394.27% over the last 6 months – not to mention a rise of 748.82% 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 69.52, with the RSI for the last a single of trading hit 71.28, and the three-weeks RSI is set at 68.77 for Canaan Inc. [CAN]. The present Moving Average for the last 50 days of trading for this stock 10.47, while it was recorded at 22.22 for the last single week of trading, and 4.48 for the last 200 days.

Canaan Inc. [CAN]: An insightful look at the core 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.

Canaan Inc. [CAN]: Insider Ownership positions

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22 institutional holders increased their position in Canaan Inc. [NASDAQ:CAN] by around 8,134,132 shares. Additionally, 12 investors decreased positions by around 2,362,500 shares, while 0 investors held positions by with 1,704,926 shares. The mentioned changes placed institutional holdings at 12,201,558 shares, according to the latest SEC report filing. CAN stock had 15 new institutional investments in for a total of 4,321,949 shares, while 9 institutional investors sold positions of 1,566,283 shares during the same period.

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