Canaan Inc. (NASDAQ:CAN) traded at $1.97 at last check on Monday, Sep 14, making a downturn move of -1.5% on its previous day’s price.
Looking at the stock we see that its previous close was $2 and the beta (5Y monthly) reads 0 with the day’s price range being $1.9450 – 2.0100. The company has a 12-month trailing PE ratio of 0. In terms of its 52-week price range, CAN has a high of $13 and a low of $1.76. The company’s stock has gained about -7.94% over that past 30 days.
There have been no upward or downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CAN stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Let’s briefly compare Canaan (CAN) stock to its peers. We find that today’s price change of -1.5% and 0% over the past 12 months for CAN competes that of Microsoft Corp (MSFT), which has seen its stock price rise 0.68% in the latest trading session and is +49.58% over the last one year. Another of its peers Adobe Systems Inc (ADBE) has climbed 3.09% today, and is +74.57% up over the past year, while Salesforce.com Inc (CRM) is also down -1.5% yet its price remains in the red at 0% over the same period. Microsoft has a P/E ratio of 35.64 compared to Canaan’s 0 and Adobe’s 64.04. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 1.27% and 1.18%, respectively, in early deals.
Coming back to Canaan Inc. (NASDAQ:CAN), we note that the average 3-month trading volume was 3.26 Million, while that of the preceding 10-day period stands at 1.71 Million. Current shares outstanding are 156.68 Million.
According to data from Thomson Reuters, insiders hold 0% of the company’s shares while institutions hold 2.99%. The data shows that short shares as of August 30, 2020, stood at 1.7 Million at a short ratio of 0.55. This represents a 1.08% Short interest in Shares outstanding on August 30, 2020. Shares short dropped in August from the previous month at 1.88 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -67.7% down in year-to-date price movement.