Canaan Inc. [CAN] Is Currently -0.27 below its 200 Period Moving Avg: What Dose This Mean?

Canaan Inc. [NASDAQ: CAN] slipped around -0.02 points on Tuesday, while shares priced at $7.27 at the close of the session, down -0.27%. The company report on September 20, 2021 that Canaan Inc. Announces Up to US$20 Million New 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$20 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 20, 2021.

Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, commented, “Canaan remains committed to driving value for shareholders. Given our robust business performance in 2021 to date and encouraging outlook, we believe our current valuation does not fully reflect the growth potential of the Company. As such, we would like to allocate our capital to optimize value creation, in addition to our consistent investment for market expansion, securing production capacity, and R&D innovation. The new share repurchase program demonstrates our strong confidence in both the Company’s business operation and long-term prospects of the industry.”.

Canaan Inc. stock is now 22.60% up from its year-to-date (YTD) trading value. CAN Stock saw the intraday high of $7.40 and lowest of $7.15 per share. The company’s 52-week high price is 39.10, which means current price is +69.07% above from all time high which was touched on 03/12/21.

Compared to the average trading volume of 6.88M shares, CAN reached a trading volume of 3751719 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 0.81, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 4.62. The Price to Book ratio for the last quarter was 4.25, with the Price to Cash per share for the same quarter was set at 1.14.

How has CAN stock performed recently?

Canaan Inc. [CAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.81. With this latest performance, CAN shares dropped by -9.80% in over the last four-week period, additionally sinking by -65.48% over the last 6 months – not to mention a rise of 270.92% 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 39.25, with the RSI for the last a single of trading hit 33.67, and the three-weeks RSI is set at 42.64 for Canaan Inc. [CAN]. The present Moving Average for the last 50 days of trading for this stock 8.05, while it was recorded at 7.71 for the last single week of trading, and 10.76 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 -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 2.00 and a Current Ratio set at 2.40.

Insider trade positions for Canaan Inc. [CAN]

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Positions in Canaan Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 61 institutional holders increased their position in Canaan Inc. [NASDAQ:CAN] by around 10,479,659 shares. Additionally, 38 investors decreased positions by around 13,533,619 shares, while 8 investors held positions by with 3,371,284 shares. The mentioned changes placed institutional holdings at 20,641,994 shares, according to the latest SEC report filing. CAN stock had 36 new institutional investments in for a total of 4,895,537 shares, while 22 institutional investors sold positions of 4,375,545 shares during the same period.

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