Canaan Inc. (NASDAQ:CAN) has seen 2.98 million shares traded in the last trading session. The company, currently valued at $504.34M, closed the last trade at $3.36 per share which meant it gained $0.22 on the day or 7.01% during that session. The CAN stock price is -105.36% off its 52-week high price of $6.90 and 44.35% above the 52-week low of $1.87. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.1 million shares traded. The 3-month trading volume is 1.98 million shares.
The consensus among analysts is that Canaan Inc. (CAN) is a Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 4 have rated it as a Hold, with 4 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.07.
Canaan Inc. (NASDAQ:CAN) trade information
Sporting 7.01% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the CAN stock price touched $3.36 or saw a rise of 2.04%. Year-to-date, Canaan Inc. shares have moved 63.11%, while the 5-day performance has seen it change 13.90%. Over the past 30 days, the shares of Canaan Inc. (NASDAQ:CAN) have changed 54.13%. Short interest in the company has seen 8.95 million shares shorted with days to cover at 9.42.
Wall Street analysts have a consensus price target for the stock at $49.27, which means that the shares’ value could jump 93.18% from current levels. The projected low price target is $28.16 while the price target rests at a high of $63.35. In that case, then, we find that the current price level is -1785.42% off the targeted high while a plunge would see the stock gain -738.1% from current levels.
Canaan Inc. (CAN) estimates and forecasts
Figures show that Canaan Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -19.81% over the past 6 months, with this year growth rate of -67.45%, compared to -3.10% for the industry. Revenue growth from the last financial year stood is estimated to be -8.20%.
3 analysts offering their estimates for the company have set an average revenue estimate of $151.64 million for the current quarter. 3 have an estimated revenue figure of $137.13 million for the next quarter concluding in Dec 2022.
Canaan Inc. is expected to release its next earnings report between March 01 and March 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Canaan Inc. (NASDAQ:CAN)’s Major holders
Insiders own 0.00% of the company shares, while shares held by institutions stand at 21.65% with a share float percentage of 21.65%. Investors are also buoyed by the number of investors in a company, with Canaan Inc. having a total of 125 institutions that hold shares in the company. The top two institutional holders are Invesco Ltd. with over 7.87 million shares worth more than $25.34 million. As of Jun 29, 2022, Invesco Ltd. held 4.74% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 6.13 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $19.75 million and represent 3.69% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard International Stock Index-Emerging Markets Stk and Vanguard International Stock Index-Total Intl Stock Indx. As of Jul 30, 2022, the former fund manager holds about 1.39% shares in the company for having 2.31 million shares of worth $9.06 million while later fund manager owns 2.18 million shares of worth $8.56 million as of Jul 30, 2022, which makes it owner of about 1.31% of company’s outstanding stock.