Short Interest in Abpro Holdings Inc. (NASDAQ:ABP) Increases By 271.4%

Abpro Holdings Inc. (NASDAQ:ABP) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 18,253 shares, an increase of 271.4% from the January 15th total of 4,914 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 53,854 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 53,854 shares, the short-interest ratio is currently 0.3 days. Currently, 0.8% of the shares of the company are sold short.

Institutional Trading of Abpro

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. purchased a new position in shares of Abpro during the 1st quarter valued at approximately $30,000. Geode Capital Management LLC lifted its holdings in Abpro by 127.6% during the second quarter. Geode Capital Management LLC now owns 196,494 shares of the company’s stock valued at $42,000 after purchasing 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 valued at about $192,000. 23.30% of the stock is currently owned by hedge funds and other institutional investors.

Abpro Stock Performance

ABP opened at $1.27 on Thursday. The company has a fifty day moving average of $3.81 and a two-hundred day moving average of $5.63. The stock has a market capitalization of $3.45 million and a price-to-earnings ratio of -0.30. Abpro has a fifty-two week low of $1.12 and a fifty-two week high of $34.65.

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

Wall Street Analyst Weigh In

ABP has been the subject of several research reports. Maxim Group cut shares of Abpro from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Wall Street Zen cut shares of Abpro to a “strong sell” rating in a report 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 analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $120.00.

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.