$1.83M in average volume shows that Canaan Inc. (CAN) is heading in the right direction

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A new trading day began on September 21, 2022, with Canaan Inc. (NASDAQ: CAN) stock priced at $3.10, up 0.65% from the previous day of trading. During the day, the shares moved up to $3.22 and dropped to $3.01 before settling in for the closing price of $3.07. CAN’s price has ranged from $2.56 to $11.19 over the past 52 weeks.


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Meanwhile, its annual earnings per share averaged 946.70%. With a float of $158.33 million, this company’s outstanding shares have now reached $172.31 million.

Let’s look at the performance matrix of the company that is accounted for 346 employees. In terms of profitability, gross margin is +56.98, operating margin of +36.69, and the pretax margin is +41.12.

Canaan Inc. (CAN) Latest Financial update

In its latest quarterly report, released on 3/30/2022, the company reported earnings of $0.38 per share, which was $0.1 lower than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). This company achieved a net margin of +40.11 while generating a return on equity of 101.89. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.07 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 946.70% per share during the next fiscal year.

Canaan Inc. (NASDAQ: CAN) Trading Performance Indicators

Here are Canaan Inc.’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 2.80. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 0.61.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 2.33, a number that is poised to hit 0.07 in the next quarter and is forecasted to reach 1.26 in one year’s time.

Technical Analysis of Canaan Inc. (CAN)

Canaan Inc. (NASDAQ: CAN) saw its 5-day average volume 1.02 million, a negative change from its year-to-date volume of 3.69 million. As of the previous 9 days, the stock’s Stochastic %D was 15.09%. Additionally, its Average True Range was 0.21.

During the past 100 days, Canaan Inc.’s (CAN) raw stochastic average was set at 26.77%, which indicates a significant increase from 15.09% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 45.15% in the past 14 days, which was lower than the 78.36% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $3.72, while its 200-day Moving Average is $4.29. Nevertheless, the first resistance level for the watch stands at $3.20 in the near term. At $3.32, the stock is likely to face the second major resistance level. The third major resistance level sits at $3.41. If the price goes on to break the first support level at $2.99, it is likely to go to the next support level at $2.90. The third support level lies at $2.78 if the price breaches the second support level.

Canaan Inc. (NASDAQ: CAN) Key Stats

With a market capitalization of 567.29 million, the company has a total of 186,943K Shares Outstanding. Currently, annual sales are 782,520 K while annual income is 313,890 K. The company’s previous quarter sales were 246,740 K while its latest quarter income was 90,910 K.

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