Canaan Inc. (CAN) is priced at $20.85 after the most recent trading session. At the very opening of the session, the stock price was $21.15 and reached a high price of $24.80, prior to closing the session it reached the value of $24.79. The stock touched a low price of $20.15.
Recently in News on February 10, 2021, Canaan Announces Improved Revenue Visibility in 2021. Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced that its revenue visibility has improved substantially in 2021 as a result of attaining purchase orders totaling more than 100,000 units of bitcoin mining machines from customers in North America. Many of those purchase orders were placed with prepayment and will likely occupy the Company’s current manufacturing capacity entirely for the full year of 2021 and beyond. With those fully committed purchase orders, the Company now enjoys a much higher degree of revenue visibility and more precise forecast. As such, the Company is able to leverage such information and additional liquidity to conduct its component purchases, production scheduling, warehousing and logistics. You can read further details here
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Canaan Inc. had a pretty favorable run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $25.78 on 02/19/21, with the lowest value was $4.30 for the same time period, recorded on 01/27/21.
Canaan Inc. (CAN) full year performance was 255.80%
Price records that include history of low and high prices in the period of 52 weeks can tell a lot about the stock’s existing status and the future performance. Presently, Canaan Inc. shares are logging -19.12% during the 52-week period from high price, and 1084.66% higher than the lowest price point for the same timeframe. The stock’s price range for the 52-week period managed to maintain the performance between $1.76 and $25.78.
The company’s shares, operating in the sector of Technology managed to top a trading volume set approximately around 34702939 for the day, which was evidently higher, when compared to the average daily volumes of the shares.
When it comes to the year-to-date metrics, the Canaan Inc. (CAN) recorded performance in the market was 251.60%, having the revenues showcasing 549.53% on a quarterly basis in comparison with the same period year before. At the time of this writing, the total market value of the company is set at 2.28B, as it employees total of 333 workers.
Analysts verdict on Canaan Inc. (CAN)
During the last month, 0 analysts gave the Canaan Inc. a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.
According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 4.84, with a change in the price was noted +18.91. In a similar fashion, Canaan Inc. posted a movement of +974.74% for the period of last 100 days, recording 10,103,863 in trading volumes.
Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for CAN is recording 0.09 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.00.
Canaan Inc. (CAN): Technical Analysis
Raw Stochastic average of Canaan Inc. in the period of last 50 days is set at 78.19%. The result represents improvement in oppose to Raw Stochastic average for the period of the last 20 days, recording 77.06%. In the last 20 days, the company’s Stochastic %K was 81.68% and its Stochastic %D was recorded 85.12%.
Let’s take a glance in the erstwhile performances of Canaan Inc., multiple moving trends are noted. Year-to-date Price performance of the company’s stock appears to be pessimistic, given the fact the metric is recording 251.60%. Additionally, trading for the stock in the period of the last six months notably improved by 932.18%, alongside a boost of 255.80% for the period of the last 12 months. The shares increased approximately by 59.89% in the 7-day charts and went down by 334.38% in the period of the last 30 days. Common stock shares were driven by 549.53% during last recorded quarter.