Abpro Holdings Inc. (NASDAQ:ABP) Short Interest Up 271.4% in January

Abpro Holdings Inc. (NASDAQ:ABP) saw a significant growth in short interest in January. As of January 30th, there was short interest totaling 18,253 shares, a growth of 271.4% from the January 15th total of 4,914 shares. Based on an average trading volume of 53,854 shares, the short-interest ratio is presently 0.3 days. Currently, 0.8% of the company’s stock are sold short. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 53,854 shares, the short-interest ratio is presently 0.3 days.

Abpro Price Performance

Shares of NASDAQ ABP opened at $0.83 on Friday. The business has a 50-day moving average of $3.70 and a 200-day moving average of $5.60. The stock has a market capitalization of $2.25 million and a price-to-earnings ratio of -0.20. Abpro has a fifty-two week low of $0.80 and a fifty-two week high of $34.65.

Abpro (NASDAQ:ABP) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.57.

Hedge Funds Weigh In On Abpro

Hedge funds and other institutional investors have recently made changes to their positions in the company. Yorkville Advisors Global LP acquired a new position in Abpro during the third quarter worth $192,000. Geode Capital Management LLC grew its position in shares of Abpro by 127.6% in the 2nd quarter. Geode Capital Management LLC now owns 196,494 shares of the company’s stock valued at $42,000 after acquiring an additional 110,159 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Abpro during the 1st quarter worth about $30,000. 23.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen cut Abpro to a “strong sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Abpro in a research report on Monday, December 29th. Finally, Maxim Group downgraded Abpro from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Abpro currently has an average rating of “Reduce” and an average target price of $120.00.

About Abpro

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.