Canaan Inc. [CAN] is -26.02% lower this YTD. Is it still time to buy?

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Canaan Inc. [NASDAQ: CAN] closed the trading session at $3.81 on 05/03/22. The day’s price range saw the stock hit a low of $3.795, while the highest price level was $4.03. The company report on April 29, 2022 that Canaan Inc. Files 2021 Annual Report on Form 20-F.

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Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the U.S. Securities and Exchange Commission (the “SEC”) on April 29, 2022. The annual report on Form 20-F can be accessed on the SEC’s website at http://www.sec.gov and on the Company’s investor relations website at https://investor.canaan-creative.com/.

The Company will provide a hard copy of the annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to the Company’s Investor Relations Department at IR@canaan-creative.com.

The stocks have a year to date performance of -26.02 percent and weekly performance of 3.53 percent. The stock has been moved at -57.43 percent over the last six months. The stock has performed -32.80 percent around the most recent 30 days and changed -15.52 percent over the most recent 3-months.

If compared to the average trading volume of 5.37M shares, CAN reached to a volume of 5446929 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]:

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 0.42, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 0.93. The Price to Book ratio for the last quarter was 1.27.

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 3.53. With this latest performance, CAN shares dropped by -32.80% in over the last four-week period, additionally sinking by -57.43% over the last 6 months – not to mention a drop of -67.71% 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 38.18, with the RSI for the last a single of trading hit 35.10, and the three-weeks RSI is set at 40.99 for Canaan Inc. [CAN]. The present Moving Average for the last 50 days of trading for this stock 4.91, while it was recorded at 3.82 for the last single week of trading, and 6.54 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 +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.

Canaan Inc. [CAN]: Insider Ownership positions

43 institutional holders increased their position in Canaan Inc. [NASDAQ:CAN] by around 4,962,426 shares. Additionally, 41 investors decreased positions by around 6,309,562 shares, while 14 investors held positions by with 9,357,542 shares. The mentioned changes placed institutional holdings at 20,629,530 shares, according to the latest SEC report filing. CAN stock had 26 new institutional investments in for a total of 2,420,455 shares, while 19 institutional investors sold positions of 4,332,143 shares during the same period.