Abits Group Inc. (NASDAQ:ABTS) Stock Short Interest Report for September

Abits Group Inc. (NASDAQ:ABTS – Get Free Report) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 28,306 shares, a decline of 41.6% from the September 15th total of 48,481 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average trading volume of 168,104 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Abits Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has a consensus rating of “Sell”.

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Abits Group Price Performance

Shares of Abits Group stock traded down $0.01 during midday trading on Thursday, hitting $1.19. 1,878 shares of the company were exchanged, compared to its average volume of 1,057,473. The firm has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $1.27. Abits Group has a 52 week low of $0.76 and a 52 week high of $9.16.

Abits Group Company Profile

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Abits Group Inc is a bitcoin mining company that develops and operates digital-asset mining infrastructure. Its principal business involves deploying specialized computing equipment to validate transactions on the Bitcoin network and earn bitcoin rewards.

The company focuses on building and managing mining operations, including data-center infrastructure, power arrangements, and related operational capabilities. Its activities are centered on the United States, with an emphasis on expanding scalable and energy-efficient mining capacity.

Abits Group was formerly known as Moxian (BVI) Inc and adopted its current name in 2023 as it shifted its corporate focus toward cryptocurrency mining.

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