During the last session, Canaan Inc ADR (NASDAQ:CAN)’s traded shares were 25.42 million, with the beta value of the company hitting 3.11. At the end of the trading day, the stock’s price was $1.67, reflecting an intraday gain of 5.03% or $0.08. The 52-week high for the CAN share is $3.50, that puts it down -109.58 from that peak though still a striking 56.89% gain since the share price plummeted to a 52-week low of $0.72. The company’s market capitalization is $457.15M, and the average intraday trading volume over the past 10 days was 19.39 million shares, and the average trade volume was 7.50 million shares over the past three months.
Canaan Inc ADR (NASDAQ:CAN) trade information
Canaan Inc ADR (CAN) registered a 5.03% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.03% in intraday trading to $1.67, hitting a weekly high. The stock’s 5-day price performance is 10.60%, and it has moved by 65.35% in 30 days. Based on these gigs, the overall price performance for the year is -1.18%. The short interest in Canaan Inc ADR (NASDAQ:CAN) is 23.45 million shares and it means that shorts have 3.82 day(s) to cover.
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The consensus price target of analysts on Wall Street is $2, which implies an increase of 16.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2 and $2 respectively. As a result, CAN is trading at a discount of -19.76% off the target high and -19.76% off the low.
Canaan Inc ADR (CAN) estimates and forecasts
Statistics show that Canaan Inc ADR has outperformed its competitors in share price, compared to the industry in which it operates. Canaan Inc ADR (CAN) shares have gone up 53.21% during the last six months, with a year-to-date growth rate more than the industry average at 63.80% against 17.90. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 66.80% this quarter and then drop -1,003.42% in the quarter after that. In the rating firms’ projections, revenue will increase 16.70% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 570.79M as predicted by 3 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to 595.23M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 353.2M and 253.34M respectively. In this case, analysts expect current quarter sales to grow by 61.61% and then jump by 134.96% in the coming quarter.
While earnings are projected to return 75.46% in 2024.
CAN Dividends
Canaan Inc ADR is due to release its next quarterly earnings in December. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
The next largest institutional holding, with 9.09 million shares, is of STATE STREET CORP’s that is approximately 3.6646% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $9.09 million.
