Abits Group Inc. (NASDAQ:ABTS) Short Interest Update

Abits Group Inc. (NASDAQ:ABTS) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totaling 56,486 shares, a decline of 29.0% from the March 15th total of 79,577 shares. Based on an average daily trading volume, of 19,100 shares, the days-to-cover ratio is presently 3.0 days. Currently, 2.6% of the company’s stock are sold short.

Institutional Investors Weigh In On Abits Group

An institutional investor recently bought a new position in Abits Group stock. FNY Investment Advisers LLC bought a new stake in Abits Group Inc. (NASDAQ:ABTS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,366 shares of the company’s stock, valued at approximately $30,000. FNY Investment Advisers LLC owned approximately 0.14% of Abits Group as of its most recent filing with the SEC. 0.20% of the stock is currently owned by institutional investors.

Abits Group Stock Performance

Shares of Abits Group stock opened at $1.24 on Tuesday. The firm’s 50-day simple moving average is $2.44 and its 200-day simple moving average is $4.96. Abits Group has a 1 year low of $1.06 and a 1 year high of $10.86.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Abits Group in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Abits Group currently has an average rating of “Sell”.

Abits Group Company Profile

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.