There Is Still Room For Canaan Inc. (CAN) to Improve Its Value – Let’s Wait for Clarity

The closing price of Canaan Inc. (NASDAQ: CAN) was $3.36 for the day, up 7.01% from the previous closing price of $3.14. In other words, the price has increased by $+0.2200 from its previous closing price. On the day, 2978451 shares were traded. CAN stock price reached its highest trading level at $3.3900 during the session, while it also had its lowest trading level at $3.1400.

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Ratios:

Our analysis of CAN’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 5.70 and its Current Ratio is at 7.80. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, H.C. Wainwright on July 06, 2022, initiated with a Buy rating and assigned the stock a target price of $5.

On June 08, 2022, The Benchmark Company started tracking the stock assigning a Buy rating and target price of $9.

On April 05, 2022, DA Davidson started tracking the stock assigning a Buy rating and target price of $15.DA Davidson initiated its Buy rating on April 05, 2022, with a $15 target price.

Valuation Measures:

As of this moment, Canaan’s Price-to-Earnings (P/E) ratio for their current fiscal year is 1.62, and their Forward P/E ratio for the next fiscal year is 2.90. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.55 while its Price-to-Book (P/B) ratio in mrq is 0.79.

Stock Price History:

Over the past 52 weeks, CAN has reached a high of $6.90, while it has fallen to a 52-week low of $1.87. The 50-Day Moving Average of the stock is 2.5072, while the 200-Day Moving Average is calculated to be 3.3191.

Shares Statistics:

CAN traded an average of 1.98M shares per day over the past three months and 3.1M shares per day over the past ten days. A total of 170.72M shares are outstanding, with a floating share count of 137.37M. Shares short for CAN as of Oct 13, 2022 were 8.95M with a Short Ratio of 9.07M, compared to 10.4M on Sep 14, 2022.

Earnings Estimates

The firm’s stock currently is rated by 3 analysts. The consensus estimate for the next quarter is -$0.1, with high estimates of -$0.04 and low estimates of -$0.21.

Analysts are recommending an EPS of between $1.01 and $0.76 for the fiscal current year, implying an average EPS of $0.89. EPS for the following year is $1.24, with 4 analysts recommending between $1.78 and $0.59.

Revenue Estimates

A total of 4 analysts have provided revenue estimates for CAN’s current fiscal year. The highest revenue estimate was $841.7M, while the lowest revenue estimate was $635.11M, resulting in an average revenue estimate of $718.03M. In the same quarter a year ago, actual revenue was $782.52M, down -8.20% from the average estimate. Based on 4 analysts’ estimates, the company’s revenue will be $944.35M in the next fiscal year. The high estimate is $1.17B and the low estimate is $784.4M. The average revenue growth estimate for next year is up 31.50% from the average revenue estimate for this year.