Abits Group (NASDAQ:ABTS) Stock Price Up 2.9% – Here’s What Happened

Abits Group Inc. (NASDAQ:ABTS)’s share price was up 2.9% during mid-day trading on Thursday . The company traded as high as $6.26 and last traded at $6.2260. Approximately 4,131 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 21,325 shares. The stock had previously closed at $6.05.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Abits Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Abits Group Stock Down 5.4%

The business has a 50 day simple moving average of $6.73 and a two-hundred day simple moving average of $5.46.

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

Hedge Funds Weigh In On Abits Group

An institutional investor recently bought a new position in Abits Group stock. Citadel Advisors LLC acquired a new position in shares of Abits Group Inc. (NASDAQ:ABTS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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 Securities and Exchange Commission. 0.20% of the stock is currently owned by institutional investors and hedge funds.

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.