In the latest trading session, 2.16 million Canaan Inc ADR (NASDAQ:CAN) shares changed hands as the company’s beta touched 3.10. With the company’s most recent per share price at $0.91 changing hands around $0.05 or 5.91% at last look, the market valuation stands at $249.32M. CAN’s current price is a discount, trading about -284.62% off its 52-week high of $3.50. The share price had its 52-week low at $0.72, which suggests the last value was 20.88% up since then. When we look at Canaan Inc ADR’s average trading volume, we note the 10-day average is 5.49 million shares, with the 3-month average coming to 6.45 million.
Canaan Inc ADR (NASDAQ:CAN) trade information
Instantly CAN is in green as seen in intraday trades today. With action 6.19%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -60.57%, with the 5-day performance at 6.19% in the green. However, in the 30-day time frame, Canaan Inc ADR (NASDAQ:CAN) is -24.73% down. Looking at the short shares, we see there were 25.67 million shares sold at short interest cover period of 4.84 days.
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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 -60.40% over the past 6 months, a 44.79% in annual growth rate that is considerably higher than the industry average of 10.30%. Year-over-year growth is forecast to reach 25.10% up from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of 35.09M. 1 analysts are of the opinion that Canaan Inc ADR’s revenue for the current quarter will be 71.86M. The company’s revenue for the corresponding quarters a year ago was 50.1M and 69.92M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -30.00%. The estimates for the next quarter sales put growth at 2.80%.
The 2024 estimates are for Canaan Inc ADR earnings to increase by 97.55%.
CAN Dividends
Canaan Inc ADR is expected to release its next quarterly earnings report in September.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
SG AMERICAS SECURITIES, LLC holds the second largest percentage of outstanding shares, with 2.985% or 5.39 million shares worth $8.19 million as of 2024-03-31.
Among Mutual Funds, the top two as of Jun 30, 2024 were SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Global X Fds-Global X Blockchain ETF. With 8.81 shares estimated at $8.01 million under it, the former controlled 3.13% of total outstanding shares. On the other hand, Global X Fds-Global X Blockchain ETF held about 1.76% of the shares, roughly 4.96 shares worth around $4.51 million.
