DA Davidson slashes price target on Canaan Inc. [CAN] – find out why.


Canaan Inc. [NASDAQ: CAN] gained 1.92% or 0.08 points to close at $4.24 with a heavy trading volume of 4358732 shares. The company report on April 13, 2022 that Viasat Receives Top Honors from LinkedIn and Ragan as a Top Company to Work for in the United States.

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Viasat Inc. (NASDAQ: VSAT), a global communications company, was recognized by two global organizations, LinkedIn and Ragan, as a top company to work at in the United States.

LinkedIn: LinkedIn Top Companies list is a ranking of 50 companies that are investing in their talent and helping people build careers that will set them up for long-term success. Viasat ranked within this prestigious list, which included an evaluation of the following seven key pillars: ability to advance, skills growth, company stability, external opportunity, company affinity, gender diversity and educational background.

It opened the trading session at $4.08, the shares rose to $4.26 and dropped to $3.978, the range by which the price of stock traded the whole day. The daily chart for CAN points out that the company has recorded -35.76% loss over the past six months. However, it is still -36.77% lower than its most recent low trading price.

If we look at the average trading volume of 5.31M shares, CAN reached to a volume of 4358732 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]:

DA Davidson have made an estimate for Canaan Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 05, 2022.

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 1.00. The Price to Book ratio for the last quarter was 1.35.

Trading performance analysis for CAN stock

Canaan Inc. [CAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.15. With this latest performance, CAN shares dropped by -19.24% in over the last four-week period, additionally sinking by -35.76% over the last 6 months – not to mention a drop of -65.22% 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 39.58, with the RSI for the last a single of trading hit 33.65, and the three-weeks RSI is set at 42.72 for Canaan Inc. [CAN]. The present Moving Average for the last 50 days of trading for this stock 5.17, while it was recorded at 4.26 for the last single week of trading, and 6.67 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 +36.66 and a Gross Margin at +57.17. Canaan Inc.’s Net Margin is presently recorded at +40.11.

Return on Equity for this stock inclined to 101.89, with Return on Assets sitting at 59.52.

Canaan Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.50.

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

Positions in Canaan Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 43 institutional holders increased their position in Canaan Inc. [NASDAQ:CAN] by around 5,449,635 shares. Additionally, 45 investors decreased positions by around 5,147,681 shares, while 13 investors held positions by with 11,448,202 shares. The mentioned changes placed institutional holdings at 22,045,518 shares, according to the latest SEC report filing. CAN stock had 27 new institutional investments in for a total of 2,454,201 shares, while 22 institutional investors sold positions of 2,951,943 shares during the same period.