Market cap of Canaan Inc. [CAN] reaches 667.40M – now what?

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Canaan Inc. [NASDAQ: CAN] gained 14.85% or 0.53 points to close at $4.10 with a heavy trading volume of 15796933 shares. The company report on May 5, 2022 that Canaan Inc. Provides Update on its Status under the Holding Foreign Companies Accountable Act.

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Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today provides an update on its status under the Holding Foreign Companies Accountable Act (the “HFCAA”).

The Company was provisionally named by the United States Securities and Exchange Commission (the “SEC”) as a Commission-Identified Issuer on May 4, 2022 following the Company’s filing of its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the SEC on April 29, 2022.

It opened the trading session at $3.56, the shares rose to $4.11 and dropped to $3.50, the range by which the price of stock traded the whole day. The daily chart for CAN points out that the company has recorded -55.87% loss over the past six months. However, it is still -32.26% lower than its most recent low trading price.

If we look at the average trading volume of 5.40M shares, CAN reached to a volume of 15796933 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 0.42, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 0.89. The Price to Book ratio for the last quarter was 1.37.

Trading performance analysis for CAN stock

Canaan Inc. [CAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.89. With this latest performance, CAN shares dropped by -32.68% in over the last four-week period, additionally sinking by -55.87% over the last 6 months – not to mention a drop of -64.75% 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 46.36, with the RSI for the last a single of trading hit 50.32, and the three-weeks RSI is set at 45.69 for Canaan Inc. [CAN]. The present Moving Average for the last 50 days of trading for this stock 4.85, while it was recorded at 3.86 for the last single week of trading, and 6.50 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]

43 institutional holders increased their position in Canaan Inc. [NASDAQ:CAN] by around 4,995,030 shares. Additionally, 42 investors decreased positions by around 6,332,138 shares, while 15 investors held positions by with 9,324,477 shares. The mentioned changes placed institutional holdings at 20,651,645 shares, according to the latest SEC report filing. CAN stock had 27 new institutional investments in for a total of 2,457,359 shares, while 20 institutional investors sold positions of 4,348,184 shares during the same period.