Ebang International Holdings Inc. (NASDAQ:EBON) Short Interest Down 43.6% in May

Ebang International Holdings Inc. (NASDAQ:EBON) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 8,629 shares, a drop of 43.6% from the May 14th total of 15,299 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 5,206 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Trading of Ebang International

An institutional investor recently raised its position in Ebang International stock. Susquehanna International Group LLP raised its position in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,474 shares of the company’s stock after buying 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 reporting period. Institutional investors own 1.15% of the company’s stock.

Ebang International Stock Performance

Shares of EBON opened at $2.00 on Friday. The stock’s fifty day moving average price is $2.18 and its two-hundred day moving average price is $2.68. Ebang International has a 1 year low of $1.61 and a 1 year high of $5.90.

Ebang International (NASDAQ:EBON) last issued its earnings results on Saturday, April 25th. The company reported ($0.76) earnings per share (EPS) for the quarter. The business had revenue of $1.48 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ebang International in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Ebang International presently 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.