Abits Group (NASDAQ:ABTS) Stock Price Down 1.2% – What’s Next?

Abits Group Inc. (NASDAQ:ABTS) fell 1.2% on Thursday . The stock traded as low as $5.06 and last traded at $5.14. 3,532 shares traded hands during trading, a decline of 37% from the average session volume of 5,643 shares. The stock had previously closed at $5.20.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Abits Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Abits Group Stock Down 1.2%

The firm has a fifty day moving average price of $5.70 and a two-hundred day moving average price of $5.71.

Abits Group (NASDAQ:ABTS) last announced its quarterly earnings data on Wednesday, December 10th. The company reported ($0.12) EPS for the quarter. The business had revenue of $1.61 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Abits Group stock. Citadel Advisors LLC acquired a new stake in Abits Group Inc. (NASDAQ:ABTS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,720 shares of the company’s stock, valued at approximately $169,000. Citadel Advisors LLC owned 0.79% of Abits Group at the end of the most recent reporting period. Institutional investors own 0.20% of the company’s stock.

About Abits Group

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.