Abits Group Inc. (NASDAQ:ABTS) Short Interest Down 15.7% in February

Abits Group Inc. (NASDAQ:ABTS) saw a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 28,177 shares, a decline of 15.7% from the January 29th total of 33,431 shares. Based on an average trading volume of 4,652 shares, the days-to-cover ratio is currently 6.1 days. Approximately 1.3% of the company’s stock are sold short. Approximately 1.3% of the company’s stock are sold short. Based on an average trading volume of 4,652 shares, the days-to-cover ratio is currently 6.1 days.

Institutional Trading of Abits Group

A hedge fund recently bought a new stake in Abits Group stock. FNY Investment Advisers LLC bought a new stake in Abits Group Inc. (NASDAQ:ABTS) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,366 shares of the company’s stock, valued at approximately $30,000. FNY Investment Advisers LLC owned 0.14% of Abits Group as of its most recent SEC filing. 0.20% of the stock is currently owned by hedge funds and other institutional investors.

Abits Group Trading Up 4.8%

Shares of Abits Group stock opened at $2.62 on Thursday. Abits Group has a 52 week low of $1.35 and a 52 week high of $10.86. The firm’s 50 day moving average is $4.17 and its two-hundred day moving average is $5.47.

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

Analyst Upgrades and Downgrades

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

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.