Canaan Inc ADR [NASDAQ: CAN] stock went on a downward path that fall over -8.39% on Friday, amounting to a one-week price increase of more than 5.97%. The company report on March 13, 2024 at 8:00 PM that Canaan’s RISC-V based edge AIoT SoC adopted VeriSilicon’s ISP and GPU IPs.
Integrating VeriSilicon’s pixel processing IP portfolio into the high-precision, low-latency K230 chip.
VeriSilicon (688521.SH) today announced the integration of its Image Signal Processor (ISP) IP ISP8000, DeWarp Processor IP DW200, and 2.5D Graphics Processor Unit (GPU) IP GCNanoV into Canaan’s K230 chip, the world’s first commercial mass production edge AIoT chip supporting the RISC-V Vector 1.0 standard. This collaboration marks a significant advancement in the high-precision, low-latency edge AIoT solutions for a wide range of intelligent products, such as large-model and multimodal input edge terminals, 3D-structured light perception modules, interactive robots, open-source hardwares, as well as hardwares for smart manufacturing, smart home solutions and AI education.
Over the last 12 months, CAN stock dropped by -48.36%. The one-year Canaan Inc ADR stock forecast points to a potential upside of 48.36. The average equity rating for CAN stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $213.38 million, with 150.27 million shares outstanding and 149.26 million shares in the current float. Compared to the average trading volume of 21.94M shares, CAN stock reached a trading volume of 8832424 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $2.75 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. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on June 08, 2022, representing the official price target for Canaan Inc ADR stock. Previously, the target price had yet another raise to $15, while DA Davidson analysts kept a Buy rating on CAN stock.
The Average True Range (ATR) for Canaan Inc ADR is set at 0.20, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 1.01. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 0.64.
CAN Stock Performance Analysis:
Canaan Inc ADR [CAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.97. With this latest performance, CAN shares dropped by -30.05% in over the last four-week period, additionally sinking by -20.67% over the last 6 months – not to mention a drop of -48.36% 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 45.13, with the RSI for the last a single of trading hit 45.48, and the three-weeks RSI is set at 45.49 for Canaan Inc ADR [CAN]. The present Moving Average for the last 50 days of trading for this stock 1.6525, while it was recorded at 1.4280 for the last single week of trading, and 1.9992 for the last 200 days.
Insight into Canaan Inc ADR Fundamentals:
Canaan Inc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.64 and a Current Ratio set at 2.69.
CAN Stock EPS
With the latest financial reports released by the company, Canaan Inc ADR posted -0.48/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -128.60%. 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.
Canaan Inc ADR [CAN] Institutonal Ownership Details
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%.
