Canaan Inc. (NASDAQ:CAN) Stock: Performance and Outlook – Marketing Sentinel
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Canaan Inc. (NASDAQ:CAN) Stock: Performance and Outlook

In the last trading session, 6,841,288 Canaan Inc. (NASDAQ:CAN) shares changed hands as the company’s beta touched 0. With the company’s per share price at $8.38 changed hands at -$0.7 or -0.08% during last session, the market valuation stood at $1.44 Billion. CAN’s last price was a discount, traded about -366.59% off its 52-week high of $39.1. The share price had its 52-week low at $1.76, which suggests the last value was 79% up since then. When we look at Canaan Inc.’s average trading volume, we note the 10-day average is 9.89 Million shares, with the 3-month average coming to 12.46 Million.

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Analysts gave the Canaan Inc. (CAN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 0. If we narrow down to specifics, the data shows that none out of 1 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, none recommended CAN as a Hold, 1 felt it is a Buy and none rated the stock as Underweight.


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Canaan Inc. (NASDAQ:CAN) trade information

Although CAN has turned red as seen at the end of in last trading. With action -7.71%, the performance over the past five days has been red. The jump to weekly highs of $10.52 on Tuesday, Jun 15 added 20.34% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.41%, with the 5-day performance at -0.19% in the red. However, in the 30-day time frame, Canaan Inc. (NASDAQ:CAN) is 0.05% up. Looking at the short shares, we see there were 9.26 Million shares sold at short interest cover period of 0.74 days.

Canaan Inc. (CAN) estimates and forecasts

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0%. The 2021 estimates are for Canaan Inc. earnings to increase by 79%, but the outlook for the next 5-year period is at 0% per year.

Canaan Inc. (NASDAQ:CAN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0% of Canaan Inc. shares while 20.62% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 20.62%. There are 90 institutions holding the Canaan Inc. stock share, with Invesco Ltd. the top institutional holder. As of Mar 30, 2021, the company held 3.55% of the shares, roughly 4.88 Million CAN shares worth $100.85 Million.

Franchise Capital Limited holds the second largest percentage of outstanding shares, with 2.66% or 3.66 Million shares worth $75.62 Million as of Mar 30, 2021.

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Among Mutual Funds, the top two as of Mar 30, 2021 were Amplify Transformational Data Sharing ETF and Fidelity China Region Fund. With 2037609 shares estimated at $42.12 Million under it, the former controlled 1.48% of total outstanding shares. On the other hand, Fidelity China Region Fund held about 1.16% of the shares, roughly 1.6 Million shares worth around $33.01 Million.

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