Ebang International (NASDAQ:EBON) Trading Down 6.4% – Should You Sell?

Ebang International Holdings Inc. (NASDAQ:EBON) was down 6.4% during trading on Tuesday . The company traded as low as $2.22 and last traded at $2.20. Approximately 2,584 shares traded hands during trading, a decline of 50% from the average daily volume of 5,149 shares. The stock had previously closed at $2.35.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ebang International in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Ebang International Trading Up 2.6%

The stock’s 50 day moving average is $2.27 and its 200 day moving average is $2.95.

Ebang International (NASDAQ:EBON) last posted its quarterly earnings data on Saturday, April 25th. The company reported ($0.76) EPS for the quarter. The company had revenue of $1.48 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP lifted its stake in shares of Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 currently owned by institutional investors.

Ebang International Company Profile

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.