Abits Group Inc. (NASDAQ:ABTS) Short Interest Down 12.7% in January

Abits Group Inc. (NASDAQ:ABTS) saw a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 33,431 shares, a drop of 12.7% from the January 15th total of 38,296 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 7,963 shares, the days-to-cover ratio is presently 4.2 days. Based on an average daily volume of 7,963 shares, the days-to-cover ratio is presently 4.2 days. Currently, 1.5% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Abits Group in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Abits Group

An institutional investor recently bought a new position in Abits Group stock. FNY Investment Advisers LLC bought a new position in Abits Group Inc. (NASDAQ:ABTS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter. 0.20% of the stock is owned by institutional investors and hedge funds.

Abits Group Trading Down 5.9%

NASDAQ:ABTS opened at $2.70 on Tuesday. The company has a fifty day moving average of $4.90 and a 200 day moving average of $5.60. Abits Group has a 52 week low of $1.35 and a 52 week high of $10.86.

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

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.