Abits Group (NASDAQ:ABTS) Announces Quarterly Earnings Results

Abits Group (NASDAQ:ABTS) released its earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, FiscalAI reports. The company had revenue of $1.61 million during the quarter.

Abits Group Price Performance

Shares of ABTS stock traded down $0.44 during trading hours on Wednesday, reaching $6.05. 10,144 shares of the company’s stock were exchanged, compared to its average volume of 65,215. The stock’s fifty day moving average price is $6.98 and its two-hundred day moving average price is $5.43. Abits Group has a 1 year low of $1.35 and a 1 year high of $14.10.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Abits Group stock. Citadel Advisors LLC bought a new position in shares of Abits Group Inc. (NASDAQ:ABTS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,720 shares of the company’s stock, valued at approximately $169,000. Citadel Advisors LLC owned about 0.79% of Abits Group as of its most recent SEC filing. 0.20% of the stock is owned by institutional investors and hedge funds.

About Abits Group

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.