Abits Group Inc. (NASDAQ:ABTS) Short Interest Update

Abits Group Inc. (NASDAQ:ABTS) was the target of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 33,431 shares, a decrease of 12.7% from the January 15th total of 38,296 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average trading volume of 7,963 shares, the short-interest ratio is currently 4.2 days. Based on an average trading volume of 7,963 shares, the short-interest ratio is currently 4.2 days. Currently, 1.5% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abits Group in a research report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Abits Group Stock Performance

Shares of NASDAQ:ABTS opened at $2.22 on Thursday. The business has a 50 day moving average price of $4.75 and a 200 day moving average price of $5.57. Abits Group has a twelve month low of $1.35 and a twelve month high of $10.86.

Abits Group (NASDAQ:ABTS) last issued its quarterly earnings results on Wednesday, December 10th. The company reported ($0.12) EPS for the quarter. The business had revenue of $1.61 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Abits Group stock. FNY Investment Advisers LLC bought a new position in Abits Group Inc. (NASDAQ:ABTS) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,366 shares of the company’s stock, valued at approximately $30,000. FNY Investment Advisers LLC owned 0.14% of Abits Group at the end of the most recent reporting period. 0.20% of the stock is currently owned by hedge funds and other institutional investors.

Abits Group Company Profile

Abits Group Inc operates in the bitcoin mining business in the United States. The company was formerly known as Moxian (BVI) Inc and changed its name to Abits Group Inc in November 2023. Abits Group Inc was incorporated in 2021 and is based in Causeway Bay, Hong Kong.