Ebang International (NASDAQ:EBON) Shares Up 6.2% – Here’s Why

Ebang International Holdings Inc. (NASDAQ:EBON) shot up 6.2% during trading on Monday . The stock traded as high as $2.40 and last traded at $2.5490. 1,135 shares were traded during mid-day trading, a decline of 75% from the average session volume of 4,536 shares. The stock had previously closed at $2.40.

Analyst Ratings Changes

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

Ebang International Trading Up 6.2%

The company has a fifty day moving average price of $2.92 and a two-hundred day moving average price of $3.70.

Institutional Trading of Ebang International

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP grew its stake in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing. Institutional investors and hedge funds own 1.15% of the company’s stock.

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.