In today’s recent session, 3.22 million shares of the Canaan Inc ADR (NASDAQ:CAN) have been traded, and its beta is 3.09. Most recently the company’s share price was $1.07, and it changed around $0.04 or 3.40% from the last close, which brings the market valuation of the company to $291.53M. CAN at last check was trading at a discount to its 52-week high of $3.50, offering almost -227.1% off that amount. The share price’s 52-week low was $0.72, which indicates that the recent value has risen by an impressive 32.71% since then. We note from Canaan Inc ADR’s average daily trading volume that its 10-day average is 6.12 million shares, with the 3-month average coming to 5.42 million.

Canaan Inc ADR stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended CAN as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Canaan Inc ADR is expected to report earnings per share of -0.05 for the current quarter.

Canaan Inc ADR (NASDAQ:CAN) trade information

Instantly CAN has been showing a green trend so far today with a performance of 3.40% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 1.0500 on recent trading daydecreased the stock’s daily price by -1.9%. The company’s shares are currently down -53.90% year-to-date, but still up 5.45% over the last five days. On the other hand, Canaan Inc ADR (NASDAQ:CAN) is 16.22% up in the 30-day period. We can see from the shorts that 23.95 million shares have been sold at a short interest cover period of 5.53 day(s).

The consensus price target as assigned by Wall Street analysts is $2, which translates to bulls needing to increase their stock price by 46.5% from its current value. Analyst projections state that CAN is forecast to be at a low of $2 and a high of $2.

Canaan Inc ADR (CAN) estimates and forecasts

Canaan Inc ADR share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -18.70 percent over the past six months and at a 63.80% annual growth rate that is well above the industry average of 11.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 91.80% in revenue this quarter, and will report an increase of 91.50% in the next quarter. The year-over-year growth rate is expected to be 24.10%, up from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of 72.84M in revenue for the current quarter. 3 analysts expect Canaan Inc ADR to make 82.65M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 33.32M and 49.07M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 118.60%. Forecasts for the next quarter put sales growth at 68.40%.

Canaan Inc ADR (NASDAQ:CAN)’s Major holders

STATE STREET CORP, with 3.6646% or 9.09 million shares worth $9.09 million as of 2024-06-30, holds the second largest percentage of outstanding shares.

SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Global X Fds-Global X Blockchain ETF were the top two Mutual Funds as of Aug 31, 2024. The former held 8.91 shares worth $9.4 million, making up 3.10% of all outstanding shares. On the other hand, Global X Fds-Global X Blockchain ETF held roughly 6.0 shares worth around $6.33 million, which represents about 2.09% of the total shares outstanding.