Ebang International (NASDAQ:EBON) Stock Price Down 4.7% – Time to Sell?

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ebang International in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Ebang International has an average rating of “Sell”.

Ebang International Trading Down 4.7%

The stock’s 50 day simple moving average is $3.73 and its 200 day simple moving average is $4.10.

Hedge Funds Weigh In On Ebang International

An institutional investor recently raised its position in Ebang International stock. Susquehanna International Group LLP raised its position in shares of Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter. 1.15% of the stock is owned by institutional investors.

Ebang International Company Profile

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.