In the latest trading session, 4.87 million Canaan Inc ADR (NASDAQ:CAN) shares changed hands as the company’s beta touched 3.28. With the company’s most recent per share price at $1.76 changed hands at -$0.18 or -9.13% at last look, the market valuation stands at $471.57M. CAN’s current price is a discount, trading about -85.8% off its 52-week high of $3.27. The share price had its 52-week low at $0.72, which suggests the last value was 59.09% up since then. When we look at Canaan Inc ADR’s average trading volume, we note the 10-day average is 17.67 million shares, with the 3-month average coming to 17.67 million.
Canaan Inc ADR (NASDAQ:CAN) trade information
Instantly CAN was in red as seen in intraday trades today. With action -24.02%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -14.01%, with the 5-day performance at -24.02% in the red. However, in the 30-day time frame, Canaan Inc ADR (NASDAQ:CAN) is -30.32% down. Looking at the short shares, we see there were 23.45 million shares sold at short interest cover period of 3.82 days.
The consensus price target for the stock as assigned by Wall Street analysts is 2, meaning bulls need an upside of 12.0% from its recent market value. According to analyst projections, CAN’s forecast low is 2 with 2 as the target high. To hit the forecast high, the stock’s price needs a -13.64% plunge from its current level, while the stock would need to soar -13.64% for it to hit the projected low.
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 64.75% over the past 6 months, a 54.60% in annual growth rate that is considerably higher than the industry average of 17.30%. Year-over-year growth is forecast to reach 24.32% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of 581.15M. 1 analysts are of the opinion that Canaan Inc ADR’s revenue for the current quarter will be 725.92M. The company’s revenue for the corresponding quarters a year ago was 353.2M and 253.34M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 64.54%. The estimates for the next quarter sales put growth at 186.54%.
The 2025 estimates are for Canaan Inc ADR earnings to increase by 70.90%.
CAN Dividends
Canaan Inc ADR is expected to release its next quarterly earnings report in February.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
STATE STREET CORP holds the second largest percentage of outstanding shares, with 3.6646% or 9.09 million shares worth $9.09 million as of 2024-06-30.
Among Mutual Funds, the top two as of Oct 31, 2024 were SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Global X Fds-Global X Blockchain ETF. With 8.94 shares estimated at $15.59 million under it, the former controlled 3.01% of total outstanding shares. On the other hand, Global X Fds-Global X Blockchain ETF held about 2.01% of the shares, roughly 5.95 shares worth around $10.38 million.
