Canaan Inc. (CAN): Why analyst showing interest

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Canaan Inc. (NASDAQ:CAN) changes shares on Tuesday trading session, with a change of -5.84% or -$0.16 shares. The trading starts at $2.74 and closed at $2.74 throughout the day. The trading session low price was $2.31 and day high was $2.74 on Tuesday, August 04. After the session, the Technology sector daily volume shifted to 6.25 million while its average volume is 3.29M. In other hand, the CAN market cap reached to $436.54M.

On July 22, 2020, China’s Lufax seeks U.S. IPO as early as this year: sources. According to the news reported on Reuters, Lufax, one of China’s largest online wealth management platforms backed by financial giant Ping An Insurance Group <2318.HK> <601318.SS>, is seeking a U.S. initial public offering as early as this year, people with direct knowledge told Reuters.

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is down -0.39% and up 31.63% for month. Its quarterly performance was -44.99% below, while its half year performance is down -49.51%. CAN performance fall -57.70% for year-to-date.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. CAN EPS (TTM) for 12-month is -0.91. Its EPS Q/Q reached 41.10%.

Let’s take a look on the analyst recommendations on CAN for the current month and previous month. For the current month, 0 of 0 analysts recommend stock as Buy while 0 as Sell, 0 as overweight, 0 as underweight and 0 as Hold. As compared with the previous month ratings, 0 analysts participate in stock recommendation. Out of 0, 0 rated it sell, 0 rated it as Buy and 0 as Hold Ratings.

FMR, LLC, Invesco Ltd. and CSat Investment Advisory, L.P. are the top three holders in Canaan Inc. (CAN) stock. On Mar 30, 2020, FMR, LLC has 2.34 million shares which valued 7.11 million. On Mar 30, 2020, Invesco Ltd. owned 0.38 million shares which valued at 1.16 million. On Mar 30, 2020, CSat Investment Advisory, L.P. has a total of 0.21 million shares which valued at 0.65 million. In the end, CSat Investment Advisory, L.P. have 0.16% shares outstanding of Canaan Inc. (CAN) on Mar 30, 2020. The institutional holding shifted to 4.30%.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for CAN fall -40.28% for period of 200 days. SMA for 50 days was 16.10% which is showing green signal, while SMA-20 was 17.09%. The moving average value for Canaan Inc. (CAN) is 1.7M and 0.87% for 200 and 50 days respectively.