In last trading session, Canaan Inc ADR (NASDAQ:CAN) saw 6.41 million shares changing hands with its beta currently measuring 3.03. Company’s recent per share price level of $1.29 trading at $0.0 or 0.00% at ring of the bell on the day assigns it a market valuation of $193.85M. That closing price of CAN’s stock is at a discount of -171.32% from its 52-week high price of $3.50 and is indicating a premium of 12.4% from its 52-week low price of $1.13. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 7.35 million shares which gives us an average trading volume of 18.17 million if we extend that period to 3-months.
Canaan Inc ADR (NASDAQ:CAN) trade information
In the last five days CAN remained trading in the red while hitting it’s week-highest on Monday, 04/08/24 when the stock touched $1.29 price level, adding 7.53% to its value on the day. Canaan Inc ADR’s shares saw a change of -44.16% in year-to-date performance and have moved -0.77% in past 5-day. Canaan Inc ADR (NASDAQ:CAN) showed a performance of -7.19% in past 30-days. Number of shares sold short was 23.2 million shares which calculate 1.04 days to cover the short interests.
Canaan Inc ADR (CAN) estimates and forecasts
Statistics highlight that Canaan Inc ADR is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -31.75% of value to its shares in past 6 months, showing an annual growth rate of 17.18% while that of industry is 14.90. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 25.00% in the current quarter and calculating 32.80% increase in the next quarter. This year revenue growth is estimated to rise 20.30% from the last financial year’s standing.
2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $30.23 million for the same. And 2 analysts are in estimates of company making revenue of $67.51 million in the next quarter that will end on Jun 2024. Company posted $50.1 million and $69.92 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -39.70% while estimating it to be -3.40% for the next quarter.
CAN Dividends
Canaan Inc ADR is more likely to be releasing its next quarterly report between May 24 and May 28 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
Insiders are in possession of 0.00% of company’s total shares while institution are holding 21.15 percent of that, with stock having share float percentage of 21.15%. Investors also watch the number of corporate investors in a company very closely, which is 21.15% institutions for Canaan Inc ADR that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at CAN for having 6.17 million shares of worth $13.14 million. And as of Jun 29, 2023, it was holding 3.63% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 3.46 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 2.04% of outstanding shares, having a total worth of $7.38 million.
On the other hand, Amplify Transformational Data Sharing ETF and SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF are the top two Mutual Funds which own company’s shares. As of Jul 30, 2023, the former fund manager was holding 2.92 million shares of worth $9.29 million or 1.72% of the total outstanding shares. The later fund manager was in possession of 2.24 million shares on Aug 30, 2023, making its stake of worth around $4.5 million in the company or a holder of 1.32% of company’s stock.
