Canaan Inc ADR (NASDAQ: CAN) Seen Running Too Hot, Let’s Look At This More Closely

Currently, there are 150.27M common shares owned by the public and among those 149.26M shares have been available to trade.

However, the script later moved the day high at 1.6300, up 7.04%. The company’s stock has a 5-day price change of -1.94% and -52.35% over the past three months. CAN shares are trading -34.20% year to date (YTD), with the 12-month market performance down to -40.86% lower. It has a 12-month low price of $1.13 and touched a high of $3.50 over the same period. CAN has an average intraday trading volume of 20.46 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.32%, -5.83%, and -23.62% respectively.

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Institutional ownership of Canaan Inc ADR (NASDAQ: CAN) shares accounts for 30.61% of the company’s 150.27M shares outstanding.

It has a market capitalization of $228.41M and a beta (3y monthly) value of 3.01. The earnings-per-share (ttm) stands at -$2.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.55% over the week and 11.33% over the month.

Analysts forecast that Canaan Inc ADR (CAN) will achieve an EPS of -$0.36 for the current quarter, -$0.41 for the next quarter and $0 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.36 while analysts give the company a high EPS estimate of -$0.36. Comparatively, EPS for the current quarter was -$0.48 a year ago.

Looking at the support for the CAN, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on July 06, 2022, with the firm’s price target at $5. The Benchmark Company coverage for the Canaan Inc ADR (CAN) stock in a research note released on June 08, 2022 offered a Buy rating with a price target of $9.

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