In last trading session, Canaan Inc ADR (NASDAQ:CAN) saw 19.06 million shares changing hands with its beta currently measuring 3.17. Company’s recent per share price level of $1.82 trading at $0.02 or 1.11% at ring of the bell on the day assigns it a market valuation of $498.21M. That closing price of CAN’s stock is at a discount of -92.31% from its 52-week high price of $3.50 and is indicating a premium of 60.44% from its 52-week low price of $0.72. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 19.91 million shares which gives us an average trading volume of 9.09 million if we extend that period to 3-months.
Canaan Inc ADR (NASDAQ:CAN) trade information
Upright in the green during last session for gaining 1.11%, in the last five days CAN remained trading in the green while hitting it’s week-highest on Monday, 11/25/24 when the stock touched $1.82 price level, adding 15.35% to its value on the day. Canaan Inc ADR’s shares saw a change of -21.21% in year-to-date performance and have moved 8.98% in past 5-day. Canaan Inc ADR (NASDAQ:CAN) showed a performance of 40.00% in past 30-days. Number of shares sold short was 23.45 million shares which calculate 3.82 days to cover the short interests.
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Wall Street analysts have assigned a consensus price target of 2 to the stock, which implies a rise of 9.0% to its current value. Analysts have been projecting 2 as a low price target for the stock while placing it at a high target of 2. It follows that stock’s current price would drop -9.89% in reaching the projected high whereas dropping to the targeted low would mean a loss of -9.89% for stock’s current value.
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 added 75.00% of value to its shares in past 6 months, showing an annual growth rate of 59.51% while that of industry is 17.10. Apart from that, the company came raising its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 24.10% 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 580.39M for the same. And 1 analysts are in estimates of company making revenue of 601.4M in the next quarter. Company posted 353.2M and 253.34M of sales in current and next quarters respectively a year earlier.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
VAN ECK ASSOCIATES CORP is the top institutional holder at CAN for having 9.76 million shares of worth $9.76 million. And as of 2024-06-30, it was holding 3.9371 of the company’s outstanding shares.
The second largest institutional holder is STATE STREET CORP, which was holding about 9.09 million shares on 2024-06-30. The number of shares represents firm’s hold over 3.6646 of outstanding shares, having a total worth of $9.09 million.
On the other hand, SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Global X Fds-Global X Blockchain ETF are the top two Mutual Funds which own company’s shares. As of Sep 30, 2024 , the former fund manager was holding 8.93 shares of worth $16.25 million or 3.10% of the total outstanding shares. The later fund manager was in possession of 6.06 shares on Sep 30, 2024 , making its stake of worth around $11.03 million in the company or a holder of 2.10% of company’s stock.
