Abits Group Inc. (NASDAQ:ABTS) Shares Shorted: Short Interest Down 36.4% in September

Abits Group Inc. (NASDAQ:ABTS) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 48,481 shares, a drop of 36.4% from the August 31st total of 76,264 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 20,457 shares, the days-to-cover ratio is presently 2.4 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Abits Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Abits Group Stock Performance

Shares of ABTS opened at $1.19 on Friday. The firm’s 50-day moving average is $1.31 and its two-hundred day moving average is $1.35. Abits Group has a twelve month low of $0.76 and a twelve month high of $10.86.

Abits Group Company Profile

Abits Group Inc (NASDAQ: ABTS) is a digital asset technology company focused primarily on cryptocurrency mining. Its business involves operating and developing infrastructure for the mining of bitcoin and other blockchain-based digital assets, including the deployment and management of specialized mining equipment and related data-center resources.

The company was previously known as Moxian (China) Holdings Limited before adopting the Abits Group name as it shifted its strategic focus toward digital asset mining and blockchain-related activities.