Short Interest in Abits Group Inc. (NASDAQ:ABTS) Rises By 742.5%
by Danessa Lincoln · The Markets DailyAbits Group Inc. (NASDAQ:ABTS – Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 237,387 shares, an increase of 742.5% from the February 12th total of 28,177 shares. Based on an average trading volume of 4,461,437 shares, the days-to-cover ratio is currently 0.1 days. Approximately 10.7% of the company’s shares are short sold. Approximately 10.7% of the company’s shares are short sold. Based on an average trading volume of 4,461,437 shares, the days-to-cover ratio is currently 0.1 days.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Abits Group in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.
Get Our Latest Stock Analysis on ABTS
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Abits Group stock. Citadel Advisors LLC purchased a new stake in shares of Abits Group Inc. (NASDAQ:ABTS – Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 18,720 shares of the company’s stock, valued at approximately $169,000. Citadel Advisors LLC owned about 0.79% of Abits Group as of its most recent filing with the SEC. 0.20% of the stock is currently owned by institutional investors and hedge funds.
Abits Group Trading Up 3.2%
Shares of NASDAQ ABTS traded up $0.09 during mid-day trading on Tuesday, reaching $2.91. The company had a trading volume of 19,484 shares, compared to its average volume of 899,056. Abits Group has a 52 week low of $1.35 and a 52 week high of $10.86. The business’s 50-day moving average is $4.02 and its 200-day moving average is $5.46.
Abits Group (NASDAQ:ABTS – Get Free Report) last issued its earnings results on Wednesday, December 10th. The company reported ($0.12) earnings per share for the quarter. The business had revenue of $1.61 million during the quarter.
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.