Canaan Inc ADR [NASDAQ: CAN] gained 1.60% on the last trading session, reaching $1.54 price per share at the time. The company report on January 3, 2024 at 4:30 PM that Canaan Secures Follow-On Purchase Orders from Cipher and Stronghold.
Cipher’s JV entities have purchased 16,700 A1466 model Avalon Miners; the 11,000 previously bought A1346 model Avalon Miners have been delivered and installed at Cipher’s Odessa Facility.
Stronghold has purchased 1,100 A1346 model Avalon Miners; the 2,000 previously bought A1346 model Avalon Miners have been delivered and installed at Stronghold’s Patha Creek Plant.
If compared to the average trading volume of 1.84 shares, CAN reached a trading volume of 16.24M 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 ADR [CAN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CAN shares is $4.18 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.
The Average True Range (ATR) for Canaan Inc ADR is set at 0.22, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 1.11. The Price to Book ratio for the last quarter was 0.75, with the Price to Cash per share for the same quarter was set at 0.27.
Trading performance analysis for CAN stock
Canaan Inc ADR [CAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 20.30. With this latest performance, CAN shares dropped by -25.23% in over the last four-week period, additionally sinking by -42.45% over the last 6 months – not to mention a drop of -50.31% 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 48.05, with the RSI for the last a single of trading hit 53.02, and the three-weeks RSI is set at 47.05 for Canaan Inc ADR [CAN]. The present Moving Average for the last 50 days of trading for this stock 1.8561, while it was recorded at 1.3780 for the last single week of trading, and 2.1084 for the last 200 days.
Canaan Inc ADR [CAN]: A deeper dive into fundamental analysis
Canaan Inc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.45 and a Current Ratio set at 3.84.
Canaan Inc ADR [CAN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Canaan Inc ADR posted -0.26/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -85.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CAN.
An analysis of Institutional ownership at Canaan Inc ADR [CAN]
The top three institutional holders of CAN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CAN stock with ownership which is approximately 5.8325%.
