Ebang International (NASDAQ:EBON) Trading Down 4.7% – Here’s Why

Ebang International Holdings Inc. (NASDAQ:EBON) shares fell 4.7% during trading on Tuesday . The stock traded as low as $3.06 and last traded at $3.06. 38,606 shares changed hands during mid-day trading, an increase of 99% from the average session volume of 19,423 shares. The stock had previously closed at $3.21.

Wall Street Analysts Forecast Growth

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

Ebang International Trading Down 4.7%

The company has a fifty day moving average price of $3.73 and a 200 day moving average price of $4.10.

Institutional Investors Weigh In On Ebang International

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP raised its stake in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 23,474 shares of the company’s stock after buying 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. Hedge funds and other institutional investors own 1.15% of the company’s stock.

About Ebang International

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.