In the last trading session, 14.77 million Canaan Inc ADR (NASDAQ:CAN) shares changed hands as the company’s beta touched 3.01. With the company’s per share price at $1.42 changed hands at $0.0 or 0.00% during last session, the market valuation stood at $213.38M. CAN’s last price was a discount, traded about -146.48% off its 52-week high of $3.50. The share price had its 52-week low at $1.13, which suggests the last value was 20.42% up since then. When we look at Canaan Inc ADR’s average trading volume, we note the 10-day average is 16.01 million shares, with the 3-month average coming to 21.33 million.
Canaan Inc ADR (NASDAQ:CAN) trade information
With action 9.23%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -38.53%, with the 5-day performance at 9.23% in the green. However, in the 30-day time frame, Canaan Inc ADR (NASDAQ:CAN) is -20.67% down. Looking at the short shares, we see there were 23.29 million shares sold at short interest cover period of 0.95 days.
Canaan Inc ADR (CAN) estimates and forecasts
Data shows that the Canaan Inc ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -21.11% over the past 6 months, a 17.18% in annual growth rate that is considerably higher than the industry average of 13.80%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Canaan Inc ADR will rise 25.00%, while the growth in revenue is estimated to hit 32.80% for the next quarter. Year-over-year growth is forecast to reach 15.30% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $30.23 million. 2 analysts are of the opinion that Canaan Inc ADR’s revenue for the quarter ending Jun 2024 will be $67.51 million. The company’s revenue for the corresponding quarters a year ago was $50.1 million and $69.92 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -39.70%. The estimates for the next quarter sales put growth at -3.40%.
The 2024 estimates are for Canaan Inc ADR earnings to increase by 50.61%.
CAN Dividends
Canaan Inc ADR is expected to release its next quarterly earnings report between May 24 and May 28.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.00% of Canaan Inc ADR shares while 21.15% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 21.15%. There are 21.15% institutions holding the Canaan Inc ADR stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 3.63% of the shares, roughly 6.17 million CAN shares worth $13.14 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 2.04% or 3.46 million shares worth $7.38 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF. With 2.92 million shares estimated at $9.29 million under it, the former controlled 1.72% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF held about 1.32% of the shares, roughly 2.24 million shares worth around $4.5 million.
