Canaan Inc. (CAN): What Analysts Say?

The stock of Canaan Inc. (NASDAQ:CAN) decreased by decreased by -$0.53 on Friday to finish at $8.15, down -6.11 percent. The last five days have seen an average of 11,184,200 shares of common stock traded. 12 times new highs were reached in the current year, with a gain of $2.22. The average number of shares traded over the last 20 days was 7,157,065, while the average volume over the last 50 days totaled 7,133,728.

CAN stock appreciated 5.16% since last month. On 09/29/21, the company’s shares reached a one-month low of $5.46. The stock touched a high of $39.10 on 03/12/21, after rallying from a low of $1.85 in 52 weeks. The price of CAN stock has risen by 37.44% or $2.22 this year, reaching a new high 12 times. Still, the stock price is down -79.16% from the 52-week high.


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Valuation Metrics

Canaan Inc. (CAN) has a trailing price-to-earnings (P/E) ratio of 131.45. This level actually compares unfavorably with the industry at large, as the PE for the Computer Hardware industry stands at about 20.28. Further, its PE also compares unfavorably with the Technology sector’s trailing 12 months PE ratio, which comes in at 38.99 right now. The PE ratio of Canaan Inc. has varied between 145.51 and 80.77 in the last five years. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.64, the price-to-book (PB) ratio of 4.71.

For the recent quarter, Canaan Inc.’s quick ratio was 2.00, while its current ratio was 2.40, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 36.40% percent. Canaan Inc.’s EBITDA margin for the recent year was -51.06%, whereas its operating margin stood at -0.70% for the same period. Based on annual data, it had gross profit of $5.79 million and revenue of $68.61 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CAN’s return on assets (ROA) during the last 12 months has been 4.70%. There was a -52.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 10.30%. ROE has averaged 3.62 in the past year for the broader industry.

Earnings Surprise

A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $68.61 million, while revenues fell by -197.84% to $0.0. EBITDA was $25.63 million for the quarter. At the end of Canaan Inc.’s most recent quarter, its liabilities totaled 220.03 million, while its total debt was $36.27 million.

Technical Picture

Here’s a quick look at Canaan Inc.’s (CAN) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 64.18%, suggesting the stock is Neutral, with a 108.07% historical volatility rate.

The stochastic %K and %D were 80.93% and 85.09% respectively, while the average true range (ATR) was 0.68. Based on the 14-day stochastic reading of 68.31%, the RSI (14) reading is 58.83%. On the 9-day MACD Oscillator, the stock is at 1.27, and the 14-day reading is at 1.51.

Analyst Ratings

Analysts have assigned Canaan Inc. (CAN) an Buy rating. CAN is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.

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