Ebang International (NASDAQ:EBON) Stock Price Down 6.4% – What’s Next?

Ebang International Holdings Inc. (NASDAQ:EBON)’s share price dropped 6.4% during trading on Tuesday . The stock traded as low as $2.22 and last traded at $2.20. Approximately 2,584 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 5,149 shares. The stock had previously closed at $2.35.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ebang International in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ebang International presently has an average rating of “Sell”.

Ebang International Stock Down 6.4%

The firm has a 50 day moving average of $2.28 and a 200 day moving average of $2.99.

Ebang International (NASDAQ:EBON) last posted its quarterly earnings data on Saturday, April 25th. The company reported ($0.76) EPS for the quarter. The company had revenue of $1.48 million during the quarter.

Institutional Investors Weigh In On Ebang International

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP grew its stake in shares of Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,474 shares of the company’s stock after acquiring an additional 3,733 shares during the period. Susquehanna International Group LLP’s holdings in Ebang International were worth $108,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.15% of the company’s stock.

About Ebang International

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.