How have the shares performed?
Canaan Inc. (CAN) saw downtrend of -8.20% in the recent trading with $8.40 being its most recent. The current price level -78.52% lower than the highest price of $39.10 marked by the stock while trading over the past 52-weeks, whereas it is 377.27% higher than the lowest price of $1.76 the company dropped to over past 52-weeks. The latest news story on CAN appeared in GlobeNewswire under the title “SHAREHOLDER ALERT: CLAIMSFILER REMINDS CAN, CS, DOX, FGEN INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits” on May-31-21.
Squeezing the time span to 30 day period shows us the stock is currently trading -39.09% below one month high and is +19.15% above of the lowest during that time. Looking into the simple moving average, Canaan Inc. (CAN)’s stock stands at a SMA-50 of $13.97 while that of 5-day is reading $8.26.
Daily rise and fall of price influence many of the traders, and in order to overcome the fluctuating effect of that and to watch the stock closely, traders focus more on stock’s 200-day moving average. At various points in trading activity, investors are more likely to be making use of that measure as a strong indicator in figuring out their support and resistance levels, and CAN’s SMA-200 as of now is $8.45.
Canaan Inc. Earnings – What Happened With CAN
Coming around sales and income figures, publically trading companies under normal circumstances post earnings and revenues near to average estimates by the Wall Street analysts, but those could came either above or below estimates and known as surprise factor. During the reported three-month period, company’s sales were $5.77 billion.
CAN – Canaan Inc. Stock Earnings Estimates
Investors get the exact data about the key information of institutional ownership in a listed company through its 13F filings at the Stock Exchange Commission (SEC). The total number of common shares currently owned by the public is 155.50 million. CAN does have institutional investors; and they hold 19.60% of the stock.
Canaan Inc. – Insider Activity and Holdings
As on Mar 30, 2021, Invesco Ltd. was the top most holder in Canaan Inc. (NASDAQ:CAN) with an ownership of 4.88 million shares of the company or 3.55% of the stake worth $100.85 million. The filing also reveals Franchise Capital Limited as the second largest holder in the company with a control over 2.66% of the outstanding shares. Its stake is worth $75.62 million for having 3.66 million shares in hand.
Toroso Investments, LLC also came holding a key position in the company during the recent quarter and it now holds 1.48% of the outstanding shares. With this there are now 84 institutions which have possession in CAN’s shares.
The liquidity is a key characteristic of any stock and is the main point of focus of both short-term as well as long term investors before start trading into a stock. In recently reported quarter, current ratio recorded by Canaan Inc. was 1.70 while posting a debt to equity ratio of 0.11. The count was 0.77 for long-term debt to equity ratio.
Canaan Inc.’s return on equity, or ROE, is -37.70%, compared to the industry average of 5.70% for Technology – Computer Hardware. Although this indicates that CAN fails to use its equity well, the metric will vary significantly depending on the industry.
Technical Analysis of Canaan Inc. (NASDAQ:CAN) stock
To comprehend better with the trade moves and investors’ behavior, exploring the short, medium and long term technical indicators along with average volume of a stock is an effective way to make use of. When looking into those indicators for Canaan Inc. (CAN), we notice that the stock’s 20-day average volume is at 7,458,185 shares and 50% of short term indicators are suggesting the stock as Sell. Its 50-day average volume of 13,110,648 shares. And to end, CAN’s 100-day average volume is 15,800,855 shares with 50% of the long-term indicators pointing towards Sell for the stock.