In the latest trading session, 4.79 million Canaan Inc ADR (NASDAQ:CAN) shares changed hands as the company’s beta touched 3.36. With the company’s most recent per share price at $1.54 changed hands at -$0.13 or -7.49% at last look, the market valuation stands at $422.93M. CAN’s current price is a discount, trading about -112.34% 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 53.25% up since then.
Canaan Inc ADR (NASDAQ:CAN) trade information
Instantly CAN was in red as seen in intraday trades today. With action -13.69%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -24.63%, with the 5-day performance at -13.69% in the red. However, in the 30-day time frame, Canaan Inc ADR (NASDAQ:CAN) is -27.12% down.
The consensus price target for the stock as assigned by Wall Street analysts is 2, meaning bulls need an upside of 23.0% 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 -29.87% plunge from its current level, while the stock would need to soar -29.87% for it to hit the projected low.
Canaan Inc ADR (CAN) estimates and forecasts
Year-over-year growth is forecast to reach 24.36% 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 579.2M. 1 analysts are of the opinion that Canaan Inc ADR’s revenue for the current quarter will be 580.44M. 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 63.99%. The estimates for the next quarter sales put growth at 129.12%.
The 2025 estimates are for Canaan Inc ADR earnings to increase by 70.86%.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
SG AMERICAS SECURITIES, LLC holds the second largest percentage of outstanding shares, with 2.1232% or 5.27 million shares worth $5.26 million as of 2024-06-30.
Among Mutual Funds, the top two as of Nov 30, 2024 were SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and VanEck ETF Trust-VanEck Digital Transformation ETF. With 8.88 shares estimated at $13.76 million under it, the former controlled 2.52% of total outstanding shares. On the other hand, VanEck ETF Trust-VanEck Digital Transformation ETF held about 1.09% of the shares, roughly 3.82 shares worth around $5.93 million.
