Ebang International (NASDAQ:EBON) Trading Down 4.4% – Here’s What Happened

Ebang International Holdings Inc. (NASDAQ:EBON) shares were down 4.4% during trading on Monday . The stock traded as low as $3.55 and last traded at $3.6050. Approximately 2,308 shares changed hands during trading, a decline of 73% from the average daily volume of 8,415 shares. The stock had previously closed at $3.77.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Ebang International in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Ebang International Stock Down 2.3%

The company has a fifty day simple moving average of $4.55 and a 200-day simple moving average of $4.17.

Hedge Funds Weigh In On Ebang International

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP raised its position in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing. 1.15% of the stock is owned by institutional investors.

Ebang International Company Profile

Ebang International Holdings Inc, through its subsidiaries, engages in the research, design, and development of application-specific integrated circuit chips and manufacture of Bitcoin mining machines under the Ebit brand in Singapore, Hong Kong, Australia, the Bahamas, and internationally. It also provides mining machine hosting services; and engages in the development of proprietary cryptocurrency exchange platform.