Abits Group Inc. (NASDAQ:ABTS) Short Interest Update

Abits Group Inc. (NASDAQ:ABTS) saw a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 33,431 shares, a decline of 12.7% from the January 15th total of 38,296 shares. Based on an average daily volume of 7,963 shares, the days-to-cover ratio is currently 4.2 days. Currently, 1.5% of the company’s stock are short sold. Currently, 1.5% of the company’s stock are short sold. Based on an average daily volume of 7,963 shares, the days-to-cover ratio is currently 4.2 days.

Abits Group Price Performance

Shares of NASDAQ:ABTS opened at $2.50 on Wednesday. The firm has a fifty day moving average of $4.82 and a two-hundred day moving average of $5.59. Abits Group has a 12-month low of $1.35 and a 12-month high of $10.86.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Abits Group in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Abits Group stock. FNY Investment Advisers LLC lifted its holdings in Abits Group Inc. (NASDAQ:ABTS) by 138.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,035 shares of the company’s stock after purchasing an additional 4,669 shares during the period. FNY Investment Advisers LLC owned 0.34% of Abits Group worth $41,000 at the end of the most recent reporting period. Institutional investors own 0.20% of the company’s stock.

About Abits Group

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.