In the last trading session, 14.63 million shares of the Canaan Inc ADR (NASDAQ:CAN) were traded, and its beta was 3.47. Most recently the company’s share price was $1.07, and it changed around $0.11 or 11.62% from the last close, which brings the market valuation of the company to $292.90M. CAN currently trades at a discount to its 52-week high of $3.27, offering almost -205.61% off that amount. The share price’s 52-week low was $0.72, which indicates that the current 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 17.08 million shares, with the 3-month average coming to 15.50 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 5 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended CAN as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Canaan Inc ADR is expected to report earnings per share of -0.8 for the current quarter.
Canaan Inc ADR (NASDAQ:CAN) trade information
Instantly CAN has showed a green trend with a performance of 11.62% at the end of last trading. The rise to weekly highs of 1.0800 on recent trading dayincreased the stock’s daily price by 0.93%. On the other hand, Canaan Inc ADR (NASDAQ:CAN) is -35.93% down in the 30-day period. We can see from the shorts that 17.62 million shares have been sold at a short interest cover period of 1.4 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
The year-over-year growth rate is expected to be 28.11%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of 641.78M in revenue for the current quarter. 2 analysts expect Canaan Inc ADR to make 694.58M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 353.2M and 253.34M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 81.71%. Forecasts for the next quarter put sales growth at 174.17%.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
Upon looking at major shareholders, 25.18% of them are in the hands of institutional investors. The stock currently has a share float of 25.18%. Canaan Inc ADR stock is held by 127.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 2.2371% of the shares, which is about 5.55 million shares worth $5.55 million.
SG AMERICAS SECURITIES, LLC, with 2.1232% or 5.27 million shares worth $5.26 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
