Canaan Inc ADR (NASDAQ:CAN) does about 15.14M shares in volume on a normal day but saw 13815087 shares change hands in the recent trading day. The company now has a market cap of 563.90M USD. Its current market price is $2.06, marking a decrease of -11.21% compared to the previous close of $2.32. The 52 week high reached by this stock is $3.50 whilst the lowest price level in 52 weeks is $0.72. The script in recent trading has seen the stock touch a high of $2 and a low of $2.
Canaan Inc ADR (CAN) has a 20-day trading average at $2.44 and the current price is -41.14% off the 52-week high compared with 186.11% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.76 and its 200-day simple moving average is $1.23. If we look at the stock’s price movements over the week, volatility stands at 14.65%, which increases to 15.48% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 45.88 to suggest the stock is neutral.
The consensus objective for the share price is $3.44, suggesting that the stock has a potential upside of 40.12% over the period. The median price target is -3.0% away from the current levels at $2.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on September 18, 2024 when B. Riley Securities initiated the stock to “Buy” and issued a price target of $2. H.C. Wainwright initiated its price target at $5.
The current price level is -15.54%, 16.87%, and 66.95% away from its SMA20, SMA50, and SMA200 respectively, with the CAN price moving below the 50-day SMA on current market day. Canaan Inc ADR (CAN) stock is down -33.33% over the week and 13.19% over the past month. Its price is -10.82% year-to-date and -20.16% over the past year.
Its 12-month price target is $2. To reach the target analysts have set, the stock logically needs to grow 40.12 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $2, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $2.
Outstanding shares total 267.51M with insiders holding 0.00% of the shares and institutional holders owning 21.49% of the company’s common stock. The company has a return on investment of -86.66% and return on equity of -87.12%. The forward price to earnings ratio is 25.38. The beta has a value of 3.26. Price to book ratio is 1.88 and price to sales ratio is 2.46.
