Canaan Inc ADR [NASDAQ: CAN] loss -2.62% on the last trading session, reaching $2.23 price per share at the time.
If compared to the average trading volume of 15.61M shares, CAN reached a trading volume of 20996699 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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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 $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 0.31, with the Price to Sales ratio for CAN stock in the period of the last 12 months amounting to 2.60. The Price to Book ratio for the last quarter was 2.04, 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] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.46. With this latest performance, CAN shares gained by 23.89% in over the last four-week period, additionally plugging by 123.04% over the last 6 months – not to mention a drop of -30.09% 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 49.40, with the RSI for the last a single of trading hit 44.72, and the three-weeks RSI is set at 52.20 for Canaan Inc ADR [CAN]. The present Moving Average for the last 50 days of trading for this stock 1.84, while it was recorded at 2.23 for the last single week of trading, and 1.25 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 0.96 and a Current Ratio set at 1.99.
An analysis of Institutional ownership at 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%.
