Ebang International Holdings Inc. (NASDAQ:EBON) Sees Large Decline in Short Interest

Ebang International Holdings Inc. (NASDAQ:EBON) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 25,932 shares, a decline of 16.6% from the January 15th total of 31,105 shares. Based on an average daily volume of 4,512 shares, the days-to-cover ratio is currently 5.7 days. Approximately 0.5% of the shares of the stock are sold short. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 4,512 shares, the days-to-cover ratio is currently 5.7 days.

Institutional Investors Weigh In On Ebang International

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP grew its stake in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,474 shares of the company’s stock after acquiring an additional 3,733 shares during the quarter. Susquehanna International Group LLP’s holdings in Ebang International were worth $108,000 at the end of the most recent quarter. Institutional investors and hedge funds own 1.15% of the company’s stock.

Ebang International Stock Down 0.4%

EBON stock traded down $0.01 during mid-day trading on Monday, hitting $2.55. The company had a trading volume of 5,631 shares, compared to its average volume of 5,927. The company has a 50-day moving average price of $3.20 and a 200 day moving average price of $3.87. Ebang International has a 12-month low of $2.30 and a 12-month high of $5.90.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ebang International in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

About Ebang International

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.