Canaan Inc ADR (NASDAQ:CAN) saw a downside of -4.00% to close Tuesday at $1.68 after subtracting -$0.07 on the day. The 5-day average trading volume is 1,622,360 shares of the company’s common stock. It has gained $1.8750 in the past week and touched a new high 1 time within the past 5 days. An average of 2,209,225 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,448,306.
CAN’s 1-month performance is -17.65% or -$0.3600 on its low of $1.6700 reached on 09/26/23. The company’s shares have touched a 52-week low of $1.73 and high of $3.98, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, CAN has lost -18.45% or -$0.3800 and has reached a new high 10 times. However, the current price is down -57.79% from the 52-week high price.
Valuation Metrics
CAN stock has a beta of 3.30. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.77 while the price-to-book (PB) in the most recent quarter is 0.67.
Canaan Inc ADR’s quick ratio for the period ended June 29 was 1.45, with the current ratio over the same period at 3.92.. In terms of profitability, the gross margin trailing 12 months is -35.45%. The trailing 12-month EBITDA margin is 14.10% while for the period ending June 29, Canaan Inc ADR’s operating margin was -90.58%. The firm’s gross profit as reported stood at $224.41 million against revenue of $634.88 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -345.17% to $70.51 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected CAN to announce -$0.12 per share in earnings in its latest quarter, but it posted -$0.61, representing a -408.30% surprise. EBITDA for the quarter stood at more than -$116.74 million. CAN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 112.31 million, with total debt at $2.42 million.
Let’s look briefly at Canaan Inc ADR (CAN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 21.64% to suggest the stock is trending oversold, with historical volatility in this time period at 34.64%.
The stock’s 5-day moving average is $1.7660, reflecting a -9.68% or -$0.1800 change from its current price. CAN is currently trading -15.58% above its 20-day SMA, -37.55% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -42.37% and SMA200 by-30.58%.
Stochastic %K and %D was 10.90% and 14.31% and the average true range (ATR) pointed at 0.1035. The RSI (14) points at 27.97%, while the 14-day stochastic is at 3.33% with the period’s ATR at 0.1182. The stock’s 9-day MACD Oscillator is pointing at -0.0678 and -0.0874 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Canaan Inc ADR (NASDAQ: CAN), H.C. Wainwright launched coverage with a Buy rating. Analysts offering their rating for CAN stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate CAN as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.
What is CAN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $29.17 and a high of $40.10, with their median price target at $34.64. Looking at these predictions, the average price target given by analysts is for Canaan Inc ADR (CAN) stock is $34.64.
