Ebang International (NASDAQ:EBON) Stock Price Up 1.2% – Should You Buy?

Ebang International Holdings Inc. (NASDAQ:EBON) was up 1.2% on Tuesday . The company traded as high as $2.19 and last traded at $2.1350. Approximately 3,540 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 22,846 shares. The stock had previously closed at $2.11.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Ebang International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Ebang International Stock Up 1.2%

The firm’s 50 day simple moving average is $2.21 and its 200 day simple moving average is $2.52.

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

Institutional Inflows and Outflows

A hedge fund recently raised its position in Ebang International stock. Susquehanna International Group LLP lifted its holdings in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,474 shares of the company’s stock after purchasing an additional 3,733 shares during the quarter. Susquehanna International Group LLP’s holdings in Ebang International were worth $108,000 as of its most recent filing with the SEC. Institutional investors own 1.15% of the company’s stock.

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.