While Canaan Inc ADR has underperformed by -9.92%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CAN fell by -36.22%, with highs and lows ranging from $3.27 to $0.72, whereas the simple moving average fell by -15.65% 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.
Analysis of Canaan Inc ADR (CAN)
Further, the quarter-over-quarter increase in sales is 120.92%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Canaan Inc ADR’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -87.12% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.96, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and CAN is recording an average volume of 18.23M. On a monthly basis, the volatility of the stock is set at 9.84%, whereas on a weekly basis, it is put at 16.97%, with a loss of -23.87% over the past seven days. Furthermore, long-term investors anticipate a median target price of $4.44, showing growth from the present price of $1.18, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As opposed to executive stock, institutional ownership accounts for 29.83% 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 29.83% at present.
