Ebang International (NASDAQ:EBON) Trading Up 4.8% – Still a Buy?

Ebang International Holdings Inc. (NASDAQ:EBON) shares were up 4.8% during trading on Thursday . The stock traded as high as $2.31 and last traded at $2.18. 29,165 shares were traded during mid-day trading, an increase of 342% from the average session volume of 6,599 shares. The stock had previously closed at $2.08.

Analyst Ratings Changes

Separately, Weiss Ratings raised Ebang International from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Ebang International Price Performance

The company’s 50-day simple moving average is $2.09 and its 200-day simple moving average is $2.23.

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

Institutional Investors Weigh In On Ebang International

An institutional investor recently raised its stake in Ebang International stock. Susquehanna International Group LLP boosted its stake in shares of Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,474 shares of the company’s stock after buying an additional 3,733 shares during the period. Susquehanna International Group LLP’s holdings in Ebang International were worth $108,000 at the end of the most recent reporting period. 1.15% of the stock is currently owned by hedge funds and other institutional investors.

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.