As this happened, B. Riley Securities initiated its Canaan Inc ADR [CAN] rating to a Buy in a research note published on September 18, 2024; the price target was $2. A number of analysts have revised their coverage, including Rosenblatt’s analysts, who began to cover the stock in mid September with a ‘”a Buy”‘ rating. H.C. Wainwright began covering CAN with “Buy” recommendation on July 06, 2022. The Benchmark Company started covering the stock on June 08, 2022. It rated CAN as “a Buy”.
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Price Performance Review of CAN
On Tuesday, Canaan Inc ADR [NASDAQ:CAN] saw its stock jump 9.17% to $1.31. Over the last five days, the stock has gained 0.77%. Canaan Inc ADR shares have fallen nearly -43.29% since the year began. Nevertheless, the stocks have fallen -29.95% over the past one year. While a 52-week high of $3.50 was reached on 01/11/24, a 52-week low of $0.72 was recorded on 08/05/24. SMA at 50 days reached $1.0218, while 200 days put it at $1.1621.
Levels Of Support And Resistance For CAN Stock
The 24-hour chart illustrates a support level at 1.2482, which if violated will result in even more drops to 1.1864. On the upside, there is a resistance level at 1.3484. A further resistance level may holdings at 1.3868. The Relative Strength Index (RSI) on the 14-day chart is 62.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.1431, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 25.05%. Stochastics %K at 63.12% indicates the stock is a holding.
How much short interest is there in Canaan Inc ADR?
A steep rise in short interest was recorded in Canaan Inc ADR stocks on 2024-10-15, growing by 0.21 million shares to a total of 24.16 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 23.95 million shares. There was a rise of 0.88%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on April 05, 2022 when DA Davidson began covering the stock and recommended ‘”a Buy”‘ rating along with a $15 price target.
