Canaan Inc Stock Today

CAN Stock  USD 1.42  0.01  0.71%   

Performance

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Odds Of Distress

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Canaan is selling at 1.42 as of the 28th of March 2024; that is 0.71% increase since the beginning of the trading day. The stock's open price was 1.41. Canaan has under 5 % chance of experiencing financial distress over the next 2 years, but has generated negative returns over the last 90 days. Equity ratings for Canaan Inc are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 27th of February 2024 and ending today, the 28th of March 2024. Click here to learn more.
Business Domain
Technology Hardware & Equipment
IPO Date
20th of November 2019
Category
Technology
Classification
Information Technology
Canaan Inc. engages in the research, design, and sale of integrated circuit final mining equipment products by integrating IC products for bitcoin mining and related components primarily in the Peoples Republic of China. Canaan Inc. was founded in 2013 and is based in Beijing, the Peoples Republic of China. The company has 234.33 M outstanding shares of which 23.2 M shares are currently shorted by investors with about 0.95 days to cover. More on Canaan Inc

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Canaan Stock Highlights

Most reasonable investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend. Canaan's investment highlights are automatically generated signals that are significant enough to either complement your investing judgment regarding Canaan or challenge it. These highlights can help you better understand the position you are entering and avoid costly mistakes.
Old Names[Horizons Canadian Dollar Currency ETF, CAN, Canarc Resource Corp, Carrefour SA]
Business ConcentrationTechnology Hardware, Storage & Peripherals, Technology Hardware & Equipment, Information Technology, NASDAQ Composite, Information Technology, Technology Hardware, Storage & Peripherals, Computer Hardware, Technology (View all Sectors)
Average Analyst Recommendation
Analysts covering Canaan report their recommendations after researching Canaan's financial statements, talking to executives and customers, or listening in on Canaan's conference calls. The current trade recommendation is based on an ongoing consensus estimate among financial analysts covering Canaan Inc. The Canaan consensus assessment is calculated by taking the average forecast from all of the analysts covering Canaan.
Financial Strength
Based on the analysis of Canaan's profitability, liquidity, and operating efficiency, Canaan Inc is doing better financially then in previous quarter. It has a moderate probability of reporting better financial numbers in April. Financial strength of Canaan Inc is based on its profitability, leverage, liquidity, source of funds, and operating efficiency.
Current ValueLast YearChange From Last Year 10 Year Trend
Asset Turnover1.221.03
Fairly Up
Very volatile
Total Current Liabilities321.9 M403.4 M
Significantly Down
Very volatile
Total Assets5.9 B5.6 B
Sufficiently Up
Slightly volatile
Total Current Assets4.8 B4.6 B
Sufficiently Up
Slightly volatile
Canaan's financial strength is of vital concern to both outside investors and internal stakeholders. Efficiency and cost control are keys to Canaan's success, along with its ability to generate sufficient cash flow to pay bills, repay debt, and make a consistent year-to-year profit.
Financial leverage usually refers to the use of borrowed funds to amplify returns from an investment. In general, analyzing the relationship between debt to total assets helps investors to understand Canaan's financial leverage. It provides some insight into what part of Canaan's total assets is financed by creditors.
By using current balance sheet information, investors can analyze the liability, assets, and equity on Canaan's books and decide whether to invest or hold. Statistics such as return on equity (ROE), debt to equity (D/E) help investors determine how Canaan deploys its capital and how much of that capital is borrowed.
Liquidity
Canaan cash flow analysis is essential to understand how it generates and spends money over a specific period. It can also help you figure out where your money is going and how much cash you have available at a given moment. The company has 26.16 M in debt with debt to equity (D/E) ratio of 0.01, which may show that the company is not taking advantage of profits from borrowing. Canaan Inc has a current ratio of 3.77, demonstrating that it is liquid and is capable to disburse its financial commitments when the payables are due. Debt can assist Canaan until it has trouble settling it off, either with new capital or with free cash flow. So, Canaan's shareholders could walk away with nothing if the company can't fulfill its legal obligations to repay debt. However, a more frequent occurrence is when companies like Canaan Inc sell additional shares at bargain prices, diluting existing shareholders. Debt, in this case, can be an excellent and much better tool for Canaan to invest in growth at high rates of return. When we think about Canaan's use of debt, we should always consider it together with cash and equity.

Change In Working Capital

(402.21 Million)
Canaan Inc (CAN) is traded on NASDAQ Exchange in USA. It is located in 28 Ayer Rajah Crescent #06-08, Singapore, Singapore, 139959 and employs 5 people. Canaan is listed under Technology Hardware, Storage & Peripherals category by Fama And French industry classification. The company currently falls under 'Small-Cap' category with a total capitalization of 330.41 M. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate Canaan's market, we take the total number of its shares issued and multiply it by Canaan's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities. Canaan Inc runs under Technology Hardware, Storage & Peripherals sector within Information Technology industry. The entity has 234.33 M outstanding shares of which 23.2 M shares are currently shorted by investors with about 0.95 days to cover. Canaan Inc has about 2.64 B in cash with (245.92 M) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 15.4, which can makes it an attractive takeover target, given it will continue generating positive cash flow.
Check Canaan Probability Of Bankruptcy
Ownership Allocation
Canaan holds a total of 234.33 Million outstanding shares. Almost 79.0 percent of Canaan outstanding shares are held by general public with 21.14 % by other corporate entities. Please note that no matter how many assets the company secures, if the real value of the firm is less than the current market value, you may not be able to make money on it.
Check Canaan Ownership Details

Canaan Stock Price Odds Analysis

Contingent on a normal probability distribution, the odds of Canaan jumping above the current price in 90 days from now is about 79.56%. The Canaan Inc probability density function shows the probability of Canaan stock to fall within a particular range of prices over 90 days. Considering the 90-day investment horizon the stock has a beta coefficient of 5.2516 suggesting as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are projected to be negative, Canaan will likely underperform. Additionally, canaan Inc has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming NYSE Composite.
  Odds Below 1.42HorizonTargetOdds Above 1.42
20.38%90 days
 1.42 
79.56%
Based on a normal probability distribution, the odds of Canaan to move above the current price in 90 days from now is about 79.56 (This Canaan Inc probability density function shows the probability of Canaan Stock to fall within a particular range of prices over 90 days) .

Canaan Stock Institutional Holders

Institutional Holdings refers to the ownership stake in Canaan that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Canaan's outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in high-profile magazines, and presentations at investor conferences help move the stock higher, increasing Canaan's value.
InstituionRecorded OnShares
State Street Corporation2023-12-31
1.1 M
Geode Capital Management, Llc2023-12-31
968 K
Millennium Management Llc2023-12-31
877.3 K
Baader Bank Inc2023-12-31
736.2 K
American Century Companies Inc2023-12-31
727.2 K
Hel Ved Capital Management Ltd2023-12-31
716.6 K
Susquehanna International Group, Llp2023-12-31
698.4 K
Ariose Capital Management Ltd2023-12-31
458.7 K
Bright Valley Capital Ltd2023-12-31
425 K
Vanguard Group Inc2023-12-31
5.8 M
Toroso Investments Llc2023-12-31
4.7 M
View Canaan Diagnostics

Canaan Historical Income Statement

Canaan Inc Income Statement is one of the three primary financial statements used for reporting Canaan's overall financial performance over a current year or for a given accounting period. An Income Statement sometimes referred to as the statement of Canaan Inc revenue and expense. Canaan Income Statement primarily focuses on the company's revenues and expenses during a particular period.
At this time, Canaan's Total Revenue is very stable compared to the past year. As of the 28th of March 2024, Gross Profit is likely to grow to about 2.1 B, though Depreciation And Amortization is likely to grow to (183.5 M). View More Fundamentals

Canaan Stock Against Markets

Picking the right benchmark for Canaan stock is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Canaan stock price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Canaan is critical whether you are bullish or bearish towards Canaan Inc at a given time. Please also check how Canaan's historical prices are related to one of the top price index indicators.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Canaan without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Canaan Corporate Management

Elected by the shareholders, the Canaan's board of directors comprises two types of representatives: Canaan inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Canaan. The board's role is to monitor Canaan's management team and ensure that shareholders' interests are well served. Canaan's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Canaan's outside directors are responsible for providing unbiased perspectives on the board's policies.
Lu MengSecretary BoardProfile
Zhang XiInvestor ManagerProfile
Nangeng ZhangChairman CEOProfile
Clark SoucyInvestor DirectorProfile
James ChengChief OfficerProfile

How to buy Canaan Stock?

Before investing in Canaan, you must ensure you fully understand your financial goals and how diversified (or not) your overall investments are now. Then, after you clearly understand your investment objectives, consider investing in Canaan. To buy Canaan stock, you can follow these steps:
  • Choose a brokerage firm: You need to select a brokerage firm to buy shares of Canaan. Some popular options include Charles Schwab, Fidelity, TD Ameritrade, and Robinhood.
  • Open an account: Once you have chosen a brokerage firm, you will need to open an account. You will be required to provide personal information, such as your name, address, and Social Security number.
  • Fund your account: You will need to deposit funds into your brokerage account to purchase Canaan stock. You can do this by transferring funds from your bank account or other investment accounts.
  • Place your order: Once you have located Canaan Inc stock in your brokerage account, you can place your order to buy it. You will need to specify the number of shares you want to buy and the price you are willing to pay.
  • Monitor your investment: After you have purchased Canaan Inc stock, you should monitor your investment to track its performance and make informed decisions about buying, selling, or holding the stock
It's important to note that investing in stocks, such as Canaan Inc, carries risks, and you should carefully consider your investment goals and risk tolerance before making any investment decisions. Also, remember various factors, including economic indicators, change in net worth, political events, company-specific news, and investor sentiment, can influence the stock market. These factors can cause fluctuations in stock prices and lead to market volatility affecting your buy or sell decision. However, volatility can also present opportunities for investors to make gains by buying stocks when prices are low and selling when they are high. It's important for investors to have a long-term perspective and a well-diversified portfolio to manage the impact of stock market volatility on their investments. For more information on how to buy Canaan Stock please use our How to Invest in Canaan guide.

Already Invested in Canaan Inc?

The danger of trading Canaan Inc is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Canaan is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Canaan. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Canaan Inc is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Canaan Inc offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Canaan's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Canaan Inc Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Canaan Inc Stock:
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canaan Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
Note that the Canaan Inc information on this page should be used as a complementary analysis to other Canaan's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.

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When running Canaan's price analysis, check to measure Canaan's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canaan is operating at the current time. Most of Canaan's value examination focuses on studying past and present price action to predict the probability of Canaan's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canaan's price. Additionally, you may evaluate how the addition of Canaan to your portfolios can decrease your overall portfolio volatility.
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Is Canaan's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canaan. If investors know Canaan will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canaan listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.92)
Earnings Share
(2.41)
Revenue Per Share
1.23
Quarterly Revenue Growth
(0.11)
Return On Assets
(0.42)
The market value of Canaan Inc is measured differently than its book value, which is the value of Canaan that is recorded on the company's balance sheet. Investors also form their own opinion of Canaan's value that differs from its market value or its book value, called intrinsic value, which is Canaan's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canaan's market value can be influenced by many factors that don't directly affect Canaan's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canaan's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canaan is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canaan's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.