Ebang International (NASDAQ:EBON) Shares Up 18.7% – Should You Buy?

Ebang International Holdings Inc. (NASDAQ:EBON)’s share price shot up 18.7% on Wednesday. The company traded as high as $1.95 and last traded at $1.78. 30,553 shares changed hands during trading, an increase of 300% from the average daily volume of 7,631 shares. The stock had previously closed at $1.50.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Ebang International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has a consensus rating of “Sell”.

Ebang International Trading Up 18.7%

The stock has a fifty day simple moving average of $2.03 and a 200-day simple moving average of $2.23.

Ebang International (NASDAQ:EBON) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.23) EPS for the quarter. The firm had revenue of $1.96 million during the quarter.

Ebang International Company Profile

Ebang International Holdings Inc (NASDAQ: EBON) is a blockchain technology company that develops and sells application-specific integrated circuit (ASIC) chips and cryptocurrency mining machines. Its products are designed to support the processing and validation of transactions on blockchain networks, including Bitcoin-related mining operations.

The company has also pursued businesses related to cryptocurrency and financial technology, including digital asset exchange and other blockchain-based services.