Abits Group (NASDAQ:ABTS) Stock Price Down 1.8% – Here’s What Happened

Shares of Abits Group Inc. (NASDAQ:ABTS) fell 1.8% during trading on Thursday . The company traded as low as $1.0516 and last traded at $1.10. 79,627 shares changed hands during trading, a decline of 99% from the average daily volume of 6,344,971 shares. The stock had previously closed at $1.12.

Abits Group Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50-day moving average of $1.23 and a two-hundred day moving average of $3.01.

Abits Group (NASDAQ:ABTS) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.53) earnings per share (EPS) for the quarter. The business had revenue of $2.57 million during the quarter.

Institutional Trading of Abits Group

An institutional investor recently raised its stake in Abits Group stock. FNY Investment Advisers LLC increased its holdings in shares of Abits Group Inc. (NASDAQ:ABTS) by 138.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,035 shares of the company’s stock after purchasing an additional 4,669 shares during the quarter. FNY Investment Advisers LLC owned 0.34% of Abits Group worth $41,000 as of its most recent filing with the SEC. 0.20% of the stock is currently owned by institutional investors and hedge funds.

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.