Short Interest in Abpro Holdings Inc. (NASDAQ:ABP) Rises By 271.4%

Abpro Holdings Inc. (NASDAQ:ABP) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 18,253 shares, a growth of 271.4% from the January 15th total of 4,914 shares. Based on an average daily volume of 53,854 shares, the short-interest ratio is currently 0.3 days. Approximately 0.8% of the company’s stock are sold short. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 53,854 shares, the short-interest ratio is currently 0.3 days.

Abpro Price Performance

Shares of Abpro stock opened at $1.67 on Wednesday. Abpro has a 1-year low of $1.44 and a 1-year high of $34.65. The stock’s 50 day simple moving average is $3.90 and its 200-day simple moving average is $5.66. The stock has a market cap of $4.54 million, a P/E ratio of -0.39 and a beta of 0.01.

Abpro (NASDAQ:ABP) last announced its earnings results on Friday, November 14th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($1.20) by $0.57.

Wall Street Analysts Forecast Growth

ABP has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Abpro in a research note on Monday, December 29th. Maxim Group downgraded Abpro from a “buy” rating to a “hold” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen cut shares of Abpro to a “strong sell” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $120.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new stake in Abpro in the first quarter worth about $30,000. Geode Capital Management LLC grew its stake in shares of Abpro by 127.6% in the 2nd quarter. Geode Capital Management LLC now owns 196,494 shares of the company’s stock worth $42,000 after purchasing an additional 110,159 shares during the last quarter. Finally, Yorkville Advisors Global LP bought a new stake in shares of Abpro in the 3rd quarter worth approximately $192,000. Institutional investors and hedge funds own 23.30% of the company’s stock.

About Abpro

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.