The trading price of Canaan Inc ADR (NASDAQ:CAN) closed lower on Tuesday, June 17, and closing at $0.66, -6.79% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $3.27 and a 52-week low of $0.53. Over the past month, the stock has lost -17.31% in value.
Canaan Inc ADR, whose market valuation is $188.17 million at the time of this writing, is expected to release its quarterly earnings report in July. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest CAN has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
A quick review shows that CAN’s price is currently -0.80% off the SMA20 and -7.13% off the SMA50. The RSI metric on the 14-day chart is currently showing 46.39, and weekly volatility stands at 5.59%. When measured over the past 30 days, the indicator reaches 6.36%. Canaan Inc ADR (NASDAQ:CAN)’s beta value is currently sitting at 3.34, while the Average True Range indicator is currently displaying 0.07. With analysts defining $2-$2 as the low and high price targets, we arrive at a consensus price target of $2 for the trailing 12-month period. The current price is about -203.03% off the estimated low and -203.03% off the forecast high, based on this estimate. Investors will be thrilled if CAN’s share price rises to $2, which is the median consensus price. At that level, CAN’s share price would be -203.03% below current price.
To see how Canaan Inc ADR stock has been performing in comparison to its peers in the industry, here are the numbers: CAN stock’s performance was -6.79% in the latest trading, and -36.31% in the past year.
An evaluation of the daily trading volume of Canaan Inc ADR (NASDAQ:CAN) indicates that the 3-month average is 26.48 million.
Currently, records show that 286.84 million of the company’s shares remain outstanding. The institutions hold 26.99%. However, since the stock’s price has seen -68.00% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
