Canaan (LON:CAN) Sets New 52-Week High – Should You Buy?

Shares of Canaan Inc (LON:CAN) hit a new 52-week high during trading on Tuesday . The stock traded as high as GBX 269.20 and last traded at GBX 265.60, with a volume of 2856949 shares trading hands. The stock had previously closed at GBX 264.50.

Canaan Stock Performance

The company has a market cap of £2.62 billion and a P/E ratio of -17.81. The firm’s fifty day moving average is GBX 245.09 and its two-hundred day moving average is GBX 238.47.

Canaan Company Profile

Starting its life as a French subscription-TV channel 40 years ago, CANAL+ today is a global media and entertainment company with a brand recognised worldwide amongst the Top 50 Most Valuable French Brands, globally (source: Kantar Brandz, 2023). It generates revenues in 195 countries and operates directly in 52 countries across Europe, Africa, Asia, and the United States, with a total of approximately 9,000 employees worldwide. With a balance of exposure to mature and high-growth markets, CANAL+ is one of the largest media companies in Europe in terms of both revenues and subscribers, and the undisputed leader in French-speaking Sub-Saharan Africa.