Abits Group Inc. (NASDAQ:ABTS) Short Interest Down 80.6% in May

Abits Group Inc. (NASDAQ:ABTS) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 83,600 shares, a decrease of 80.6% from the April 30th total of 429,898 shares. Currently, 3.8% of the company’s shares are short sold. Based on an average daily volume of 245,525 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of Abits Group

An institutional investor recently bought a new position in Abits Group stock. FNY Investment Advisers LLC acquired a new position in Abits Group Inc. (NASDAQ:ABTS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,366 shares of the company’s stock, valued at approximately $30,000. FNY Investment Advisers LLC owned 0.14% of Abits Group at the end of the most recent reporting period. 0.20% of the stock is owned by institutional investors.

Abits Group Stock Performance

Shares of NASDAQ ABTS traded up $0.18 during mid-day trading on Friday, reaching $0.99. The company had a trading volume of 109,992 shares, compared to its average volume of 154,487. The business’s 50-day moving average is $1.32 and its 200-day moving average is $3.48. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.05. Abits Group has a 52 week low of $0.76 and a 52 week high of $10.86.

Abits Group (NASDAQ:ABTS) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.53) EPS for the quarter. The firm had revenue of $2.57 million for the quarter.

Abits Group Company Profile

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.