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

Abits Group Inc. (NASDAQ:ABTS) was the target of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 79,577 shares, a decline of 66.5% from the February 26th total of 237,387 shares. Approximately 3.6% of the company’s shares are sold short. Based on an average daily volume of 26,849 shares, the short-interest ratio is currently 3.0 days. Based on an average daily volume of 26,849 shares, the short-interest ratio is currently 3.0 days. Approximately 3.6% of the company’s shares are sold short.

Analyst Ratings Changes

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

Institutional Trading of Abits Group

A hedge fund recently bought a new stake in Abits Group stock. Citadel Advisors LLC bought a new position in Abits Group Inc. (NASDAQ:ABTS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,720 shares of the company’s stock, valued at approximately $169,000. Citadel Advisors LLC owned 0.79% of Abits Group at the end of the most recent quarter. 0.20% of the stock is currently owned by institutional investors and hedge funds.

Abits Group Stock Up 5.9%

Shares of ABTS stock opened at $2.68 on Wednesday. Abits Group has a one year low of $1.35 and a one year high of $10.86. The company has a 50 day moving average price of $3.39 and a 200 day moving average price of $5.38.

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.