Canaan Inc. [CAN] is -2.70% lower this YTD. Is it still time to buy?

Canaan Inc. [NASDAQ: CAN] plunged by -$0.53 during the normal trading session on Friday and reaching a high of $6.2899 during the day while it closed the day at $5.77. The company report on July 8, 2021 that Canaan Releases Self-developed Edge AI Chip, the Kendryte K510.

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Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, announced the release of the Kendryte K510 (the “K510”), an independently designed and developed RISC-V based edge AI chip, at the 2021 World Artificial Intelligence Conference.

The K510 has several key technical advantages. The original data flow computing technology of the K510 improves the chip’s computing power by approximately three times. In addition, by adopting a RISC-V open-source architecture, the K510 is highly customizable and capable of empowering developers in their execution of scenario-based development. The K510 can currently be used for UAV high-definition aerial photography, high-definition panoramic video conferences, robotics, STEAM education, driver assistance scenarios, and industrial and professional cameras.

Canaan Inc. stock has also loss -14.39% of its value over the past 7 days. However, CAN stock has declined by -57.60% in the 3 months of the year. Over the past six months meanwhile, it has gained 9.28% and lost -2.70% year-on date.

The market cap for CAN stock reached $1.08 billion, with 156.62 million shares outstanding and 141.58 million shares in the current float. Compared to the average trading volume of 8.04M shares, CAN reached a trading volume of 4946993 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 0.69, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 8.93. The Price to Book ratio for the last quarter was 10.12, with the Price to Cash per share for the same quarter was set at 1.11.

CAN stock trade performance evaluation

Canaan Inc. [CAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.39. With this latest performance, CAN shares dropped by -39.83% in over the last four-week period, additionally plugging by 9.28% over the last 6 months – not to mention a rise of 210.22% 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 30.43, with the RSI for the last a single of trading hit 24.04, and the three-weeks RSI is set at 34.99 for Canaan Inc. [CAN]. The present Moving Average for the last 50 days of trading for this stock 8.69, while it was recorded at 6.32 for the last single week of trading, and 9.50 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 -56.71 and a Gross Margin at +5.84. Canaan Inc.’s Net Margin is presently recorded at -48.05.

Return on Total Capital for CAN is now -37.32, given the latest momentum, and Return on Invested Capital for the company is -37.09. Return on Equity for this stock declined to -37.64, with Return on Assets sitting at -20.72. When it comes to the capital structure of this company, Canaan Inc. [CAN] has a Total Debt to Total Equity ratio set at 14.95. Additionally, CAN Total Debt to Total Capital is recorded at 13.00, with Total Debt to Total Assets ending up at 6.24. Long-Term Debt to Equity for the company is recorded at 0.77, with the Long-Term Debt to Total Capital now at 0.67.

Reflecting on the efficiency of the workforce at the company, Canaan Inc. [CAN] managed to generate an average of -$125,657 per employee. Receivables Turnover for the company is 3.36 with a Total Asset Turnover recorded at a value of 0.43.Canaan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.30.

Canaan Inc. [CAN]: Insider Ownership positions

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63 institutional holders increased their position in Canaan Inc. [NASDAQ:CAN] by around 15,535,234 shares. Additionally, 12 investors decreased positions by around 4,044,001 shares, while 3 investors held positions by with 4,114,009 shares. The mentioned changes placed institutional holdings at 23,693,244 shares, according to the latest SEC report filing. CAN stock had 51 new institutional investments in for a total of 11,978,041 shares, while 7 institutional investors sold positions of 3,209,826 shares during the same period.

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