Ebang International (NASDAQ:EBON) Releases Quarterly Earnings Results

Ebang International (NASDAQ:EBON) posted its quarterly earnings data on Friday. The company reported ($0.23) earnings per share for the quarter, FiscalAI reports. The company had revenue of $1.96 million for the quarter.

Ebang International Trading Up 4.0%

Shares of EBON traded up $0.08 during mid-day trading on Friday, reaching $2.02. 3,599 shares of the company’s stock were exchanged, compared to its average volume of 5,433. Ebang International has a 52-week low of $1.61 and a 52-week high of $5.90. The company has a 50-day simple moving average of $2.10 and a two-hundred day simple moving average of $2.27.

Institutional Investors Weigh In On Ebang International

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP raised its stake in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% in 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 acquiring an additional 3,733 shares during the quarter. Susquehanna International Group LLP’s holdings in Ebang International were worth $108,000 at the end of the most recent quarter. 1.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.