While Canaan Inc ADR has overperformed by 15.30%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CAN fell by -40.56%, with highs and lows ranging from $3.50 to $0.72, whereas the simple moving average fell by -20.31% in the last 200 days.
On September 11, 2024, Rosenblatt started tracking Canaan Inc ADR (NASDAQ: CAN) recommending Buy. A report published by H.C. Wainwright on July 06, 2022, Initiated its previous ‘Buy’ rating for CAN. The Benchmark Company also rated CAN shares as ‘Buy’, setting a target price of $9 on the company’s shares in an initiating report dated June 08, 2022. DA Davidson Initiated an Buy rating on April 05, 2022, and assigned a price target of $15.
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Analysis of Canaan Inc ADR (CAN)
Further, the quarter-over-quarter decrease in sales is -2.70%, showing a negative trend in the upcoming months.
In order to gain a clear picture of Canaan Inc ADR’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -74.69% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.18, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 5.67M can be a very valuable indicator of volatility for CAN stock. On a monthly basis, the volatility of the stock is set at 8.36%, whereas on a weekly basis, it is put at 7.86%, with a gain of 16.76% over the past seven days. Furthermore, long-term investors anticipate a median target price of $3.00, showing growth from the present price of $1.07, which can serve as yet another indication of whether CAN is worth investing in or should be passed over.
How Do You Analyze Canaan Inc ADR Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As opposed to executive stock, institutional ownership accounts for 21.64% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CAN shares are owned by institutional investors to the tune of 21.64% at present.
