During the last session, Canaan Inc. (NASDAQ:CAN)’s traded shares were 7,659,631, with the beta value of the company hitting 0. At the end of the trading day, the stock’s price was $18.64, reflecting an intraday loss of -3.17% or -$0.61. The 52-week high for the CAN share is $39.1, that puts it down -109.76% from that peak though still a striking +90.56% gain since the share price plummeted to a 52-week low of $1.76. The company’s market capitalization is $2.92 Billion, and the average intraday trading volume over the past 10 days was 21.8 Million shares, and the average trade volume was 18.87 Million shares over the past three months.
Canaan Inc. (CAN) received a consensus recommendation of 0 from analysts. That translates to a mean rating of 0. CAN has a Sell rating from none of the analyst(s) out of 0 analysts who have looked at this stock. Neither of the analyst(s) recommend to Hold the stock while none of them suggest Overweight, and no one recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight.
Canaan Inc. (NASDAQ:CAN): Trading Information
Canaan Inc. (CAN) registered a -3.17% downside in the last session and has traded in the red over the past 5 sessions. The stock spiked 22.66% in intraday trading to $24.10 this Thursday, Apr 01, hitting a weekly high. The stock’s 5-day price performance is -12.32%, and it has moved by -6.66% in 30 days. Despite these dips, the overall price performance for the year is 214.33%. The short interest in Canaan Inc. (NASDAQ:CAN) is 5.65 Million shares and it means that shorts have 0.3 day(s) to cover.
Canaan Inc. (CAN) projections and forecasts
An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated 0%. While earnings are projected to return -945% in 2021, the next five years will return 0% per annum.
Canaan Inc. (NASDAQ:CAN)’s Biggest Investors
Canaan Inc. insiders own 0% of total outstanding shares while institutional holders control 12.97%, with the float percentage being 12.97%. Invesco Ltd. is the largest shareholder of the company, while 34 institutions own stock in it. As of Dec 30, 2020, the company held over 4.35 Million shares (or 3.24% of all shares), a total value of $25.78 Million in shares.
The next largest institutional holding, with 2.28 Million shares, is of FMR, LLC’s that is approximately 1.69% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $13.5 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Canaan Inc. (CAN) shares are Fidelity China Region Fund and Amplify Transformational Data Sharing ETF. Data provided on Feb 27, 2021 indicates that Fidelity China Region Fund owns about 2,276,163 shares. This amounts to just over 1.69 percent of the company’s overall shares, with a $34.51 Million market value. The same data shows that the other fund manager holds slightly less at 2.05 Million, or about 1.52% of the stock, which is worth about $9.33 Million.
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