The stock of Canaan Inc ADR (NASDAQ:CAN) last traded at $1.70, up 6.92% from the previous session.
Data from the available sources indicates that Canaan Inc ADR (NASDAQ:CAN) is covered by 2 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $39.34 and a low of $21.46, we find $30.40. Given the previous closing price of $1.59, this indicates a potential upside of 1811.95 percent. CAN stock price is now -4.25% away from the 50-day moving average and -26.44% away from the 200-day moving average. The market capitalization of the company currently stands at $255.46M.
In total, 0 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $30.40 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).
With an opening price of $1.7650 on Monday morning, Canaan Inc ADR (NASDAQ: CAN) set off the trading day. During the past 12 months, Canaan Inc ADR has had a low of $1.43 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 3.84, and a quick ratio of 1.45. The fifty day moving average price for CAN is $1.7754 and a two-hundred day moving average price translates $2.3109 for the stock.
The latest earnings results from Canaan Inc ADR (NASDAQ: CAN) was released for Sep, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.43, missing analysts’ expectations of -$0.26 by -0.17. This compares to $0.04 EPS in the same period last year. The net profit margin was -154.84% and return on equity was -63.99% for CAN. The company reported revenue of $33.32 million for the quarter, compared to $145.54 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -77.11 percent. For the current quarter, analysts expect CAN to generate $31.41M 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.
