Canaan Inc. (NASDAQ:CAN) traded at $13.23 at close of the session on Tuesday, May 04, made an upward move of 5.76% on its previous day’s price.
Looking at the stock we see that its previous close was $12.51 and the beta (5Y monthly) reads 0 with the day’s price range being $12.52 – 13.30. The company has a trailing 12-month PE ratio of 0. In terms of its 52-week price range, CAN has a high of $39.1 and a low of $1.76. The company’s stock has gained about -39.86% 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 Hold, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Based on estimates by 1 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, none have rated the Canaan Inc. (CAN) stock as a Hold, while 1 rate it as a Buy. None analyst(s) rate it as outperform while none of them rated it as underperform, whereas none suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Let’s briefly compare Canaan Inc. (CAN) stock to its peers. We find that current price change of +5.76% and +187.61% over the past 12 months for CAN betters that of Microsoft Corp (MSFT), which has seen its stock price fall -0.13% in the last trading session and was +44.27% over the last one year. Another of its peers Adobe Systems Inc (ADBE) has dropped -0.96% previous session, and was +46.42% up over the past year, while Oracle Corp (ORCL) was also up 5.76% in the last session, while its price remained in the green at 187.61% over the same period. Canaan Inc. has a P/E ratio of 0 compared to Microsoft Corp’s 34.28 and Adobe Systems Inc’s 43.72. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 0.27% and 0.7%, respectively, at close of the trading.
Coming back to Canaan Inc. (NASDAQ:CAN), we note that the average 3-month trading volume was 18.87 Million, while that of the preceding 10-day period stands at 21.8 Million. Current shares outstanding are 158.15 Million.
According to data from Thomson Reuters, insiders hold 0% of the company’s shares while institutions hold 12.78%. The data shows that short shares as of April 14, 2021, stood at 10.86 Million at a short ratio of 0.52. This represents a 6.87% short interest in shares outstanding on April 14, 2021. Shares short rose in April from the previous month at 5.65 Million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock +123.1% up in year-to-date price movement.