Canaan Inc ADR [NASDAQ: CAN] jumped around 0.1 points on Friday, while shares priced at $2.86 at the close of the session, up 3.62%.
Compared to the average trading volume of 13.43M shares, CAN reached a trading volume of 24684552 in the most recent trading day, which is why market watchdogs consider the stock to be active.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
What do top market gurus 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 $3.44 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.
B. Riley Securities have made an estimate for Canaan Inc ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 18, 2024. While these analysts kept the previous recommendation, Rosenblatt raised their target price to Buy. The new note on the price target was released on September 11, 2024, representing the official price target for Canaan Inc ADR stock. Previously, the target price had yet another raise to $5, while H.C. Wainwright analysts kept a Buy rating on CAN stock.
The Average True Range (ATR) for Canaan Inc ADR is set at 0.32, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 3.41. The Price to Book ratio for the last quarter was 2.61, with the Price to Cash per share for the same quarter was set at 0.26.
How has CAN stock performed recently?
Canaan Inc ADR [CAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.92. With this latest performance, CAN shares gained by 89.40% in over the last four-week period, additionally plugging by 180.39% over the last 6 months – not to mention a rise of 116.67% 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 67.34, with the RSI for the last a single of trading hit 67.64, and the three-weeks RSI is set at 66.77 for Canaan Inc ADR [CAN]. The present Moving Average for the last 50 days of trading for this stock 1.58, while it was recorded at 2.76 for the last single week of trading, and 1.20 for the last 200 days.
Canaan Inc ADR [CAN]: Deeper insight into the fundamentals
Canaan Inc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.96 and a Current Ratio set at 1.99.
Insider trade positions for Canaan Inc ADR [CAN]
The top three institutional holders of CAN stocks are: VAN ECK ASSOCIATES CORP with ownership of 9.76 million shares, which is approximately 3.9371%. STATE STREET CORP, holding 9.09 million shares of the stock with an approximate value of $$9.09 million in CAN stocks shares; and STATE STREET CORP, currently with $$5.55 million in CAN stock with ownership which is approximately 2.2371%.
