Canaan Inc ADR (NASDAQ:CAN) shares traded -6.25% lower at $1.80 on Wall Street last session.
In accordance with the data, 2 analysts cover Canaan Inc ADR (NASDAQ:CAN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $40.10 and a low of $29.17, we find $34.64. Given the previous closing price of $1.92, this indicates a potential upside of 1704.17 percent. CAN stock price is now -4.16% away from the 50-day moving average and -27.25% away from the 200-day moving average. The market capitalization of the company currently stands at $268.67M.
It has been rated a hold by 0 analysts and a buy by 2. Brokers who have rated the stock have averaged $34.64 as their price target over the next twelve months.
With the price target of $5, H.C. Wainwright recently initiated with Buy rating for Canaan Inc ADR (NASDAQ: CAN).
Canaan Inc ADR (NASDAQ: CAN) opened at $1.9600 on Wednesday. During the past 12 months, Canaan Inc ADR has had a low of $1.64 and a high of $3.98. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 3.92, and a quick ratio of 1.45. The fifty day moving average price for CAN is $1.8782 and a two-hundred day moving average price translates $2.4743 for the stock.
The latest earnings results from Canaan Inc ADR (NASDAQ: CAN) was released for Jun, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.61, missing analysts’ expectations of -$0.12 by -0.49. This compares to $0.52 EPS in the same period last year. The net profit margin was -75.78% and return on equity was -43.90% for CAN. The company reported revenue of $73.85 million for the quarter, compared to $245.9 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -69.97 percent. For the current quarter, analysts expect CAN to generate $28.57M in revenue.
Canaan Inc ADR(CAN) Company Profile
Canaan Inc. engages in the research, design, and sale of integrated circuit (IC) final mining equipment products by integrating IC products for bitcoin mining and related components in the People’s Republic of China. It is also involved in the assembly and distribution of mining equipment and spare parts. The company has operations in the United States, Australia, Kazakhstan, Hong Kong, Canada, Mainland China, Thailand, Sweden, and internationally. Canaan Inc. was founded in 2013 and is based in Singapore.
