The closing price of Canaan Inc. (NASDAQ: CAN) was $2.59 for the day, down -4.43% from the previous closing price of $2.71. In other words, the price has decreased by -$0.1200 from its previous closing price. On the day, 1786190 shares were traded. CAN stock price reached its highest trading level at $2.7100 during the session, while it also had its lowest trading level at $2.5500.
Top 5 EV Tech Stocks to Buy for 2023
According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now.
Click Here to Download the FREE Report.
Sponsored
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 4.60 and its Current Ratio is at 7.40. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.
Upgrades & Downgrades
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CAN now has a Market Capitalization of 501.73M and an Enterprise Value of 402.78M. As of this moment, Canaan’s Price-to-Earnings (P/E) ratio for their current fiscal year is 6.62, and their Forward P/E ratio for the next fiscal year is 1.49. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.78 while its Price-to-Book (P/B) ratio in mrq is 0.72. Its current Enterprise Value per Revenue stands at 0.09 whereas that against EBITDA is 0.72.
Stock Price History:
Over the past 52 weeks, CAN has reached a high of $4.54, while it has fallen to a 52-week low of $1.87. The 50-Day Moving Average of the stock is 2.6888, while the 200-Day Moving Average is calculated to be 2.9147.
Shares Statistics:
CAN traded an average of 1.82M shares per day over the past three months and 1.59M shares per day over the past ten days. A total of 168.36M shares are outstanding, with a floating share count of 31.62M. Shares short for CAN as of Apr 27, 2023 were 7.76M with a Short Ratio of 7.76M, compared to 6.44M on Mar 30, 2023.
Earnings Estimates
The firm’s stock currently is rated by 1 analysts. On average, analysts expect EPS of -$0.21 for the current quarter, with a high estimate of -$0.21 and a low estimate of -$0.21, while EPS last year was $0.4. The consensus estimate for the next quarter is -$0.12, with high estimates of -$0.12 and low estimates of -$0.12.
Analysts are recommending an EPS of between $0.64 and $0.64 for the fiscal current year, implying an average EPS of $0.64. EPS for the following year is $1.75, with 1 analysts recommending between $1.75 and $1.75.
Revenue Estimates
It is expected that $90B in revenue will be generated in the current quarter, according to 3 analysts. It ranges from a high estimate of $69.03M to a low estimate of $56.36M. As of the current estimate, Canaan Inc.’s year-ago sales were $213.92M, an estimated decrease of -71.00% from the year-ago figure. For the next quarter, 3 analysts are estimating revenue of $76.99M, a decrease of -68.80% over than the figure of -$71.00% in the same quarter last year. There is a high estimate of $105M for the next quarter, whereas the lowest estimate is $56.36M.
A total of 4 analysts have provided revenue estimates for CAN’s current fiscal year. The highest revenue estimate was $592.75M, while the lowest revenue estimate was $288.37M, resulting in an average revenue estimate of $393.71M. In the same quarter a year ago, actual revenue was $576.19M, down -31.70% from the average estimate. Based on 3 analysts’ estimates, the company’s revenue will be $700.65M in the next fiscal year. The high estimate is $1.05B and the low estimate is $383.8M. The average revenue growth estimate for next year is up 78.00% from the average revenue estimate for this year.
