Ebang International (NASDAQ:EBON) Stock Price Up 4.8% – Still a Buy?

Shares of Ebang International Holdings Inc. (NASDAQ:EBON) traded up 4.8% during mid-day trading on Thursday . The company traded as high as $2.31 and last traded at $2.18. Approximately 29,165 shares changed hands during trading, an increase of 342% from the average session volume of 6,599 shares. The stock had previously closed at $2.08.

Analysts Set New Price Targets

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

Ebang International Trading Up 4.8%

The company’s fifty day moving average is $2.09 and its two-hundred day moving average is $2.23.

Ebang International (NASDAQ:EBON) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.23) earnings per share (EPS) for the quarter. The firm had revenue of $1.96 million for the quarter.

Institutional Trading of Ebang International

A hedge fund recently raised its position in Ebang International stock. Susquehanna International Group LLP raised its position in shares of Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,474 shares of the company’s stock after purchasing 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 quarter. 1.15% of the stock is currently owned by hedge funds and other institutional investors.

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.