Ebang International Holdings Inc. (NASDAQ:EBON) Sees Significant Drop in Short Interest

Ebang International Holdings Inc. (NASDAQ:EBON) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 15,635 shares, a decline of 23.5% from the February 26th total of 20,427 shares. Based on an average trading volume of 5,466 shares, the short-interest ratio is presently 2.9 days. Approximately 0.3% of the shares of the stock are short sold.

Ebang International Price Performance

Shares of EBON stock traded down $0.11 during trading hours on Tuesday, reaching $1.73. 6,292 shares of the company were exchanged, compared to its average volume of 5,090. Ebang International has a fifty-two week low of $1.61 and a fifty-two week high of $5.90. The stock’s fifty day moving average is $2.61 and its two-hundred day moving average is $3.52.

Institutional Investors Weigh In On Ebang International

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP boosted its position in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,474 shares of the company’s stock after acquiring an additional 3,733 shares during the period. Susquehanna International Group LLP’s holdings in Ebang International were worth $108,000 at the end of the most recent quarter. Institutional investors own 1.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Ebang International in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Ebang International Company Profile

Ebang International Holdings Inc is a China-based technology company that specializes in the design, development and sale of high-performance application-specific integrated circuit (ASIC) miner machines for cryptocurrency mining. In addition to its core hardware business, the company offers blockchain computing services and related technical support, enabling mining operations to optimize efficiency and manage large-scale deployments.

Founded in 2010 and headquartered in Hangzhou, Ebang has established research and development centers in major Chinese cities, including Beijing and Shanghai.