In the last trading session, 23.99 million shares of the Canaan Inc ADR (NASDAQ:CAN) were traded, and its beta was 3.28. Most recently the company’s share price was $0.67, and it changed around $0.02 or 3.42% from the last close, which brings the market valuation of the company to $184.64M. CAN currently trades at a discount to its 52-week high of $3.27, offering almost -388.06% off that amount. The share price’s 52-week low was $0.65, which indicates that the current value has risen by an impressive 2.99% since then. We note from Canaan Inc ADR’s average daily trading volume that its 10-day average is 17.22 million shares, with the 3-month average coming to 15.51 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 for the current quarter.
Canaan Inc ADR (NASDAQ:CAN) trade information
Instantly CAN has showed a green trend with a performance of 3.42% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 0.8200 on recent trading dayincreased the stock’s daily price by 18.29%. The company’s shares are currently down -67.10% year-to-date, but still down -11.41% over the last five days. On the other hand, Canaan Inc ADR (NASDAQ:CAN) is -35.14% down in the 30-day period. We can see from the shorts that 16.69 million shares have been sold at a short interest cover period of 1.03 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 66.5% 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 181.38%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of 545.72M in revenue for the current quarter. 2 analysts expect Canaan Inc ADR to make 927.02M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 253.34M and 512.86M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 115.41%. Forecasts for the next quarter put sales growth at 80.76%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 2.48%.
CAN Dividends
Canaan Inc ADR’s next quarterly earnings report is expected to be released on 2025-Mar-25.
Canaan Inc ADR (NASDAQ:CAN)’s Major holders
Upon looking at major shareholders, 23.16% of them are in the hands of institutional investors. The stock currently has a share float of 23.16%. Canaan Inc ADR stock is held by 126.0 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.
Amplify ETF Trust-Amplify Transformational Data Sharing ETF and Valkyrie ETF Trust II-Valkyrie Bitcoin Miners ETF were the top two Mutual Funds as of Dec 31, 2024 . The former held 4.64 shares worth $3.13 million, making up 1.32% of all outstanding shares. On the other hand, Valkyrie ETF Trust II-Valkyrie Bitcoin Miners ETF held roughly 4.31 shares worth around $2.91 million, which represents about 1.22% of the total shares outstanding.
