Abits Group (NASDAQ:ABTS) Stock Price Down 1.2% – What’s Next?

Abits Group Inc. (NASDAQ:ABTS)’s stock price dropped 1.2% during trading on Thursday . The company traded as low as $5.06 and last traded at $5.14. Approximately 3,532 shares were traded during trading, a decline of 37% from the average daily volume of 5,643 shares. The stock had previously closed at $5.20.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Abits Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Abits Group Trading Down 1.2%

The business’s 50-day simple moving average is $5.70 and its 200 day simple moving average is $5.71.

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

Institutional Trading of Abits Group

A hedge fund recently bought a new stake in Abits Group stock. FNY Investment Advisers LLC purchased a new stake in Abits Group Inc. (NASDAQ:ABTS) during the third quarter, according to its most recent filing with the SEC. The firm purchased 3,366 shares of the company’s stock, valued at approximately $30,000. FNY Investment Advisers LLC owned 0.14% of Abits Group at the end of the most recent quarter. Hedge funds and other institutional investors own 0.20% of the company’s stock.

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.