Take A Look At This Canaan Inc. (NASDAQ: CAN) Analysis Before Investing

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Canaan Inc. (NASDAQ:CAN) price closed lower on Monday, November 15, dropping -2.03% below its previous close.

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A look at the daily price movement shows that the last close reads $10.36, with intraday deals fluctuated between $10.145 and $10.71. The company’s P/E ratio in the trailing 12-month period read 163.71. Taking into account the 52-week price action we note that the stock hit a 52-week high of $39.10 and 52-week low of $2.55. The stock added 55.91% on its value in the past month.

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Canaan Inc., which has a market valuation of $1.79 billion, is expected to release its quarterly earnings report Nov 29, 2021 – Dec 03, 2021.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give CAN a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as Hold.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 1 analysts have assigned CAN a recommendation rating as follows: 0 rate it as a Hold; 1 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Canaan Inc. (CAN) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

The overview shows that CAN’s price is at present 12.84% off the SMA20 and 27.78% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 60.87, with weekly volatility standing at 9.77%. The indicator jumps to 9.85% when calculated based on the past 30 days. Canaan Inc. (NASDAQ:CAN)’s beta value is holding at 0, while the average true range (ATR) indicator is currently reading 0.82.

An analysis of the Canaan Inc. (NASDAQ:CAN) stock in terms of its daily trading volume indicates that the 3-month average is 6.91 million.

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Current records show that the company has 168.22M in outstanding shares. The percentage share held by institutions stands at 19.40%. But the 71.16% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.