Abpro Holdings Inc. (NASDAQ:ABP) Sees Significant Decrease in Short Interest

Abpro Holdings Inc. (NASDAQ:ABP) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 10,134 shares, a decrease of 46.8% from the December 15th total of 19,055 shares. Based on an average daily trading volume, of 10,788 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.4% of the company’s stock are short sold. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 10,788 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Ratings Changes

ABP has been the topic of a number of research reports. Maxim Group downgraded Abpro from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Wall Street Zen downgraded shares of Abpro to a “strong sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Abpro in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $120.00.

Abpro Stock Performance

Shares of ABP opened at $3.89 on Thursday. The stock has a market capitalization of $10.58 million, a PE ratio of -0.92 and a beta of 0.02. Abpro has a fifty-two week low of $3.78 and a fifty-two week high of $42.90. The company has a 50 day moving average price of $5.39 and a 200-day moving average price of $6.21.

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

Hedge Funds Weigh In On Abpro

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new position in Abpro in the first quarter valued at approximately $30,000. 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 valued at $42,000 after buying an additional 110,159 shares in the last quarter. Finally, Yorkville Advisors Global LP acquired a new stake in shares of Abpro in the third quarter worth approximately $192,000. 23.30% of the stock is owned by hedge funds and other institutional investors.

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.