Ebang International (NASDAQ:EBON) Stock Price Down 4.8% – What’s Next?

Ebang International Holdings Inc. (NASDAQ:EBON) shares were down 4.8% on Wednesday . The company traded as low as $2.00 and last traded at $2.00. 4,780 shares changed hands during mid-day trading, an increase of 89% from the average daily volume of 2,536 shares. The stock had previously closed at $2.10.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Ebang International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ebang International presently has an average rating of “Sell”.

Ebang International Price Performance

The firm has a 50-day moving average price of $2.13 and a 200-day moving average price of $2.37.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Ebang International stock. Susquehanna International Group LLP grew its position in shares of Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,474 shares of the company’s stock after buying an additional 3,733 shares during the quarter. Susquehanna International Group LLP’s holdings in Ebang International were worth $108,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 1.15% of the company’s stock.

Ebang International Company Profile

Ebang International Holdings Inc is a China-based technology company that specializes in the design, development and sale of high-performance application-specific integrated circuit (ASIC) miner machines for cryptocurrency mining. In addition to its core hardware business, the company offers blockchain computing services and related technical support, enabling mining operations to optimize efficiency and manage large-scale deployments.

Founded in 2010 and headquartered in Hangzhou, Ebang has established research and development centers in major Chinese cities, including Beijing and Shanghai.