Abpro Holdings Inc. (NASDAQ:ABP) Sees Significant Increase in Short Interest

Abpro Holdings Inc. (NASDAQ:ABP) was the recipient of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 44,926 shares, an increase of 146.1% from the January 29th total of 18,253 shares. Based on an average daily trading volume, of 9,039,566 shares, the days-to-cover ratio is presently 0.0 days. Currently, 1.9% of the shares of the stock are short sold. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,039,566 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Abpro to a “strong sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Abpro in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Abpro Stock Performance

ABP opened at $0.52 on Friday. The company’s 50 day moving average is $2.63 and its 200-day moving average is $5.01. Abpro has a 1-year low of $0.52 and a 1-year high of $29.97. The company has a market cap of $1.42 million and a P/E ratio of -0.12.

Institutional Trading of Abpro

A number of hedge funds have recently added to or reduced their stakes in ABP. Goldman Sachs Group Inc. acquired a new position in shares of Abpro during the fourth quarter worth $52,000. Yorkville Advisors Global LP acquired a new stake in shares of Abpro during the 3rd quarter valued at $192,000. Finally, Geode Capital Management LLC grew its position in Abpro by 127.6% during the 2nd quarter. Geode Capital Management LLC now owns 196,494 shares of the company’s stock worth $42,000 after acquiring an additional 110,159 shares during the last quarter. Institutional investors and hedge funds own 23.30% of the company’s stock.

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.