Abpro Holdings Inc. (NASDAQ:ABP) Short Interest Update

Abpro Holdings Inc. (NASDAQ:ABP) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totaling 19,055 shares, a decrease of 41.9% from the November 30th total of 32,776 shares. Based on an average trading volume of 24,062 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.8% of the company’s stock are sold short. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 24,062 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ABP. Weiss Ratings restated a “sell (e+)” rating on shares of Abpro in a research note on Monday, December 22nd. Maxim Group lowered Abpro from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Wall Street Zen downgraded Abpro to a “strong sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $120.00.

Abpro Price Performance

Shares of NASDAQ:ABP opened at $4.32 on Tuesday. The stock has a market capitalization of $11.73 million, a P/E ratio of -1.02 and a beta of -0.02. The business has a 50-day moving average of $5.79 and a two-hundred day moving average of $6.40. Abpro has a fifty-two week low of $3.78 and a fifty-two week high of $124.50.

Abpro (NASDAQ:ABP) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.57.

Hedge Funds Weigh In On Abpro

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. bought a new stake in Abpro during the 1st quarter valued at approximately $30,000. Geode Capital Management LLC increased its position in 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 buying an additional 110,159 shares during the period. Finally, Yorkville Advisors Global LP acquired a new position in shares of Abpro during the third quarter worth approximately $192,000. 23.30% of the stock is currently owned by institutional investors.

Abpro Company Profile

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.