Ebang International (NASDAQ:EBON) Shares Up 16.5% – Here’s Why

Ebang International Holdings Inc. (NASDAQ:EBON)’s share price shot up 16.5% during trading on Monday . The company traded as high as $2.83 and last traded at $2.68. 20,058 shares changed hands during trading, an increase of 354% from the average session volume of 4,423 shares. The stock had previously closed at $2.30.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ebang International in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Ebang International Price Performance

The stock has a fifty day simple moving average of $2.31 and a 200-day simple moving average of $3.22.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP raised its stake in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,474 shares of the company’s stock after acquiring an additional 3,733 shares during the quarter. Susquehanna International Group LLP’s holdings in Ebang International were worth $108,000 at the end of the most recent reporting period. 1.15% of the stock is owned by institutional investors and hedge funds.

About Ebang International

Ebang International Holdings Inc is a China-based technology company that specializes in the design, development and sale of high-performance application-specific integrated circuit (ASIC) miner machines for cryptocurrency mining. In addition to its core hardware business, the company offers blockchain computing services and related technical support, enabling mining operations to optimize efficiency and manage large-scale deployments.

Founded in 2010 and headquartered in Hangzhou, Ebang has established research and development centers in major Chinese cities, including Beijing and Shanghai.