While Canaan Inc ADR has overperformed by 1.64%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CAN fell by -47.80%, with highs and lows ranging from $3.50 to $0.72, whereas the simple moving average fell by -23.80% in the last 200 days.
On September 18, 2024, B. Riley Securities started tracking Canaan Inc ADR (NASDAQ: CAN) recommending Buy. A report published by Rosenblatt on September 11, 2024, Initiated its previous ‘Buy’ rating for CAN. H.C. Wainwright also rated CAN shares as ‘Buy’, setting a target price of $5 on the company’s shares in an initiating report dated July 06, 2022. The Benchmark Company Initiated an Buy rating on June 08, 2022, and assigned a price target of $9. DA Davidson initiated its ‘Buy’ rating for CAN, as published in its report on April 05, 2022.
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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.
One of the most important indicators of Canaan Inc ADR’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. 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.
For any stock, average volume can also provide valuable insight into volatility, and CAN is recording 5.34M average volume. On a monthly basis, the volatility of the stock is set at 7.47%, whereas on a weekly basis, it is put at 4.87%, with a loss of -7.25% over the past seven days. Furthermore, long-term investors anticipate a median target price of $2.67, showing growth from the present price of $0.96, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As opposed to executive stock, institutional ownership accounts for 19.60% 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 19.60% at present.
