For Canaan Inc ADR [CAN], Analyst sees a rise to $5. What next?

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Canaan Inc ADR [NASDAQ: CAN] closed the trading session at $1.92 on 10/31/23. The day’s price range saw the stock hit a low of $1.885, while the highest price level was $2.05. The company report on September 11, 2023 at 6:05 AM that Canaan Inc. Celebrates Its 10th Anniversary at Avalon Bitcoin & Crypto Day.

Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced that the Company will host Avalon Bitcoin & Crypto Day at the Ritz-Carlton, Millenia Singapore on September 12, 2023, to celebrate the Company’s 10th Anniversary. The conference will feature over 400 clients, business partners, and stakeholders.

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For more information and continued updates on Canaan’s 10th Anniversary Conference, please visit:

The stocks have a year to date performance of -6.80 percent and weekly performance of -0.52 percent. The stock has been moved at -30.69 percent over the last six months. The stock has performed 4.35 percent around the most recent 30 days and changed -34.02 percent over the most recent 3-months.

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If compared to the average trading volume of 2.16M shares, CAN reached to a volume of 7179534 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 ADR [CAN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CAN shares is $4.76 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CAN stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Canaan Inc ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 06, 2022.

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The Average True Range (ATR) for Canaan Inc ADR is set at 0.13, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 0.88. The Price to Book ratio for the last quarter was 0.77, with the Price to Cash per share for the same quarter was set at 0.44.

CAN stock trade performance evaluation

Canaan Inc ADR [CAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.52. With this latest performance, CAN shares gained by 4.35% in over the last four-week period, additionally sinking by -30.69% over the last 6 months – not to mention a drop of -39.43% 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 52.28, with the RSI for the last a single of trading hit 53.94, and the three-weeks RSI is set at 50.04 for Canaan Inc ADR [CAN]. The present Moving Average for the last 50 days of trading for this stock 1.88, while it was recorded at 1.95 for the last single week of trading, and 2.47 for the last 200 days.

Canaan Inc ADR [CAN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Canaan Inc ADR [CAN] shares currently have an operating margin of +8.57 and a Gross Margin at +34.93. Canaan Inc ADR’s Net Margin is presently recorded at +11.11.

Return on Total Capital for CAN is now 9.61, given the latest momentum, and Return on Invested Capital for the company is 12.50. Return on Equity for this stock inclined to 12.54, with Return on Assets sitting at 9.20. When it comes to the capital structure of this company, Canaan Inc ADR [CAN] has a Total Debt to Total Equity ratio set at 0.62. Additionally, CAN Total Debt to Total Capital is recorded at 0.61, with Total Debt to Total Assets ending up at 0.55. Long-Term Debt to Equity for the company is recorded at 0.24, with the Long-Term Debt to Total Capital now at 0.24.

Reflecting on the efficiency of the workforce at the company, Canaan Inc ADR [CAN] managed to generate an average of $133,507 per employee. Receivables Turnover for the company is 11.24 with a Total Asset Turnover recorded at a value of 0.83.Canaan Inc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.45 and a Current Ratio set at 3.92.

Canaan Inc ADR [CAN]: Institutional Ownership

The top three institutional holders of CAN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CAN stock with ownership which is approximately 5.7994%.

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