Abits Group Inc. (NASDAQ:ABTS) Short Interest Up 65.8% in August

Abits Group Inc. (NASDAQ:ABTS) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 76,264 shares, a growth of 65.8% from the August 15th total of 46,004 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average daily volume of 95,885 shares, the days-to-cover ratio is currently 0.8 days.

Abits Group Stock Down 2.8%

ABTS stock opened at $1.39 on Thursday. The firm’s fifty day simple moving average is $1.30 and its 200-day simple moving average is $1.46. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.05. Abits Group has a 12 month low of $0.76 and a 12 month high of $10.86.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Abits Group in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company 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.