Canaan Inc ADR (NASDAQ:CAN) has a beta value of 3.09 and has seen 2.71 million shares traded in the recent trading session. The company, currently valued at $252.26M, closed the recent trade at $0.94 per share which meant it lost -$0.07 on the day or -6.44% during that session. The CAN stock price is -272.34% off its 52-week high price of $3.50 and 23.4% above the 52-week low of $0.72. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.6 million shares traded. The 3-month trading volume is 5.38 million shares.
Canaan Inc ADR (NASDAQ:CAN) trade information
Sporting -6.44% in the red today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the CAN stock price touched $0.94 or saw a rise of 17.54%. Year-to-date, Canaan Inc ADR shares have moved -59.09%, while the 5-day performance has seen it change -8.26%. Over the past 30 days, the shares of Canaan Inc ADR (NASDAQ:CAN) have changed -2.25%. Short interest in the company has seen 23.74 million shares shorted with days to cover at 4.38.
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Wall Street analysts have a consensus price target for the stock at $2, which means that the shares’ value could jump 53.0% from the levels at last check today. The projected low price target is $2.0 while the price target rests at a high of $2.0. In that case, then, we find that the latest price level in today’s session is -112.77% off the targeted high while a plunge would see the stock gain -112.77% from the levels at last check today.
Canaan Inc ADR (CAN) estimates and forecasts
Figures show that Canaan Inc ADR shares have outperformed across the wider relevant industry. The company’s shares have lost -33.45% over the past 6 months, with this year growth rate of 63.80%, compared to 11.70% for the industry. Revenue growth from the last financial year stood is estimated to be 23.30%.
2 analysts offering their estimates for the company have set an average revenue estimate of 72.75M for the current quarter. 2 have an estimated revenue figure of 81.05M for the next ending quarter. Year-ago sales stood 33.32M and 49.07M respectively for this quarter and the next, and analysts expect sales will grow by 118.30% for the current quarter and 23.30% for the next.
CAN Dividends
Canaan Inc ADR is expected to release its next earnings report on 2024-Nov-26 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
The top two institutional holders are VAN ECK ASSOCIATES CORP with over 9.76 million shares worth more than $9.76 million. As of 2024-06-30, VAN ECK ASSOCIATES CORP held 3.9371% of shares outstanding.
The other major institutional holder is STATE STREET CORP, with the holding of over 9.09 million shares as of 2024-06-30. The firm’s total holdings are worth over $9.09 million and represent 3.6646% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Global X Fds-Global X Blockchain ETF. As of Aug 31, 2024, the former fund manager holds about 3.10% shares in the company for having 8.91 shares of worth $8.45 million while later fund manager owns 6.0 shares of worth $5.69 million as of Aug 31, 2024, which makes it owner of about 2.09% of company’s outstanding stock.
