Abpro Holdings Inc. (NASDAQ:ABP) Short Interest Update

Abpro Holdings Inc. (NASDAQ:ABP) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 19,055 shares, a drop of 41.9% from the November 30th total of 32,776 shares. Based on an average trading volume of 24,062 shares, the short-interest ratio is presently 0.8 days. Currently, 0.8% of the company’s stock are sold short. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 24,062 shares, the short-interest ratio is presently 0.8 days.

Abpro Trading Down 2.7%

ABP stock opened at $4.60 on Friday. The stock has a market cap of $12.51 million, a P/E ratio of -1.09 and a beta of -0.02. The stock’s fifty day simple moving average is $5.83 and its two-hundred day simple moving average is $6.43. Abpro has a 1-year low of $4.51 and a 1-year high of $153.90.

Abpro (NASDAQ:ABP) last released its earnings results on Friday, November 14th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.57.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ABP. Wall Street Zen cut Abpro to a “strong sell” rating in a report on Saturday, November 8th. Maxim Group downgraded shares of Abpro from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Abpro in a report on Monday, December 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Abpro presently has a consensus rating of “Reduce” and an average target price of $120.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ABP. Yorkville Advisors Global LP purchased a new stake in Abpro in the 3rd quarter worth about $192,000. Geode Capital Management LLC lifted its stake in Abpro by 127.6% in the 2nd quarter. Geode Capital Management LLC now owns 196,494 shares of the company’s stock worth $42,000 after purchasing an additional 110,159 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in Abpro in the 1st quarter valued at $30,000. Institutional investors own 23.30% of the company’s stock.

Abpro Company Profile

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.