Last Week, Canaan Inc. (CAN) Recorded A Gain Of $50.68

As of Thursday close, Canaan Inc.’s (NASDAQ:CAN) stock traded at $2.86. The average number of shares traded per day over the past five days has been 8,134,940 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.71 fall in that time frame. In the last twenty days, the average volume was 4,877,725, while in the previous 50 days, it was 6,505,474.


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Since last month, CAN stock retreated -34.40%. Shares of the company fell to $2.56 on 05/12/22, the lowest level in the past month. A 52-week high of $11.50 was reached on 03/23/22 after having rallying from a 52-week low of $2.84. Since the beginning of this year, CAN’s stock price has dropped by -44.47% or -$2.29, and marked a new high 8 times. However, the stock has declined by -75.13% since its 52-week high.

Valuation Metrics

Right now, Canaan Inc. (CAN) has a P/E ratio of about 1.66. Besides these, the trailing price-to-sales (P/S) ratio of 0.62, the price-to-book (PB) ratio of 0.95.

Financial Health

In the recent quarter, Canaan Inc.’s quick ratio stood at 2.10, while its current ratio was 2.50, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 57.20% percent. In the recent year, operating margins totaled 36.70%. Based on annual data, CAN earned $447.34 million in gross profit and brought in $782.52 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 51.40%. Return on equity (ROE) for the past 12 months was 95.70%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CAN’s revenue rose 91.23% during the quarter, while net income inched up to $782.52 million. During the quarter, the company generated $191.46 million in EBITDA. The liabilities of Canaan Inc. were 341.08 million at the end of its most recent quarter, and its total debt was $31.11 million.

Technical Picture

This quick technical analysis looks at Canaan Inc.’s (CAN) price momentum. With a historical volatility rate of 180.74%, the RSI 9-day stood at 30.20% on 12 May.

With respect to its five-day moving average, the current Canaan Inc. price is down by -19.89% percent or -$0.71. At present, CAN shares trade -33.95% below its 20-day simple moving average and -46.04% percent below its 100-day simple moving average. However, the stock is currently trading approximately -47.13% below its SMA50 and -59.55% below its SMA200.

Stochastic coefficient K was 11.03% and Stochastic coefficient D was 16.01%, while ATR was 0.44. Given the Stochastic reading of 18.02% for the 14-day period, the RSI (14) reading has been calculated as 33.41%. As of today, the MACD Oscillator reading stands at -0.51, while the 14-day reading stands at -0.62.

Analyst Ratings

DA Davidson launched its rating on Canaan Inc. (NASDAQ: CAN) to a Buy in a note to investors on April 05, 2022. Canaan Inc. (CAN) has been rated Buy by analysts. According to 0 brokerage firms, CAN is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Canaan Inc. stock as buy, with 2 recommending it as overweight.

With a median target price of $95.45, the current consensus forecast for the stock is $95.45 – $95.45. Based on these forecasts, analysts predict Canaan Inc. (CAN) will achieve an average price target of $95.45.

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