Abpro Holdings Inc. (NASDAQ:ABP) Sees Large Growth in Short Interest

Abpro Holdings Inc. (NASDAQ:ABP) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 3,190,000 shares, a growth of 68.8% from the September 15th total of 1,890,000 shares. Approximately 9.2% of the company’s stock are short sold. Based on an average daily volume of 10,040,000 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 10,040,000 shares, the days-to-cover ratio is currently 0.3 days. Approximately 9.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Abpro

A hedge fund recently bought a new stake in Abpro stock. Goldman Sachs Group Inc. bought a new position in shares of Abpro Holdings Inc. (NASDAQ:ABP) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 72,106 shares of the company’s stock, valued at approximately $30,000. Goldman Sachs Group Inc. owned 0.14% of Abpro at the end of the most recent reporting period. 23.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABP has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Abpro in a research note on Wednesday, October 8th. Maxim Group lowered shares of Abpro from a “buy” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $4.00.

Abpro Trading Up 3.2%

Shares of Abpro stock opened at $0.21 on Thursday. Abpro has a 1 year low of $0.15 and a 1 year high of $13.00. The company has a 50 day simple moving average of $0.22 and a two-hundred day simple moving average of $0.23.

Abpro (NASDAQ:ABP) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($0.04) earnings per share for the quarter.

Abpro Company Profile

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.