In the latest trading session, 5.31 million Canaan Inc ADR (NASDAQ:CAN) shares changed hands as the company’s beta touched 3.11. With the company’s most recent per share price at $0.74 changed hands at -$0.02 or -3.19% at last look, the market valuation stands at $201.77M. CAN’s current price is a discount, trading about -341.89% 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 2.7% up since then. When we look at Canaan Inc ADR’s average trading volume, we note the 10-day average is 16.11 million shares, with the 3-month average coming to 15.33 million.
Canaan Inc ADR (NASDAQ:CAN) trade information
Instantly CAN was in red as seen in intraday trades today. With action -16.03%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -64.04%, with the 5-day performance at -16.03% in the red. However, in the 30-day time frame, Canaan Inc ADR (NASDAQ:CAN) is -41.96% down. Looking at the short shares, we see there were 16.2 million shares sold at short interest cover period of 1.32 days.
The consensus price target for the stock as assigned by Wall Street analysts is 2, meaning bulls need an upside of 63.0% 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 -170.27% plunge from its current level, while the stock would need to soar -170.27% for it to hit the projected low.
Canaan Inc ADR (CAN) estimates and forecasts
Year-over-year growth is forecast to reach 180.93% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of 544.38M. 2 analysts are of the opinion that Canaan Inc ADR’s revenue for the current quarter will be 924.61M. The company’s revenue for the corresponding quarters a year ago was 253.34M and 512.86M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 114.88%. The estimates for the next quarter sales put growth at 80.28%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 2.48%. The 2025 estimates are for Canaan Inc ADR earnings to increase by 153.56%.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
The share float percentage for the stock currently stands at 24.58%. There are 24.58% institutions holding the Canaan Inc ADR stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 2.2371% of the shares, roughly 5.55 million CAN shares worth $5.55 million.
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 Dec 31, 2024 were Amplify ETF Trust-Amplify Transformational Data Sharing ETF and Valkyrie ETF Trust II-Valkyrie Bitcoin Miners ETF. With 4.64 shares estimated at $3.64 million under it, the former controlled 1.32% of total outstanding shares. On the other hand, Valkyrie ETF Trust II-Valkyrie Bitcoin Miners ETF held about 1.22% of the shares, roughly 4.31 shares worth around $3.38 million.
