Abits Group Inc. (NASDAQ:ABTS – Get Free Report)’s share price rose 2.7% during mid-day trading on Thursday. The stock traded as high as $0.4198 and last traded at $0.40. Approximately 662,830 shares changed hands during trading, an increase of 518% from the average session volume of 107,198 shares. The stock had previously closed at $0.3896.
Analyst Ratings Changes
Separately, Weiss Ratings cut shares of Abits Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, October 13th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.
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Abits Group Price Performance
The stock has a 50 day moving average of $1.20 and a 200 day moving average of $1.67.
Abits Group (NASDAQ:ABTS – Get Free Report) last posted its quarterly earnings data on Thursday, October 15th. The company reported ($0.40) earnings per share (EPS) for the quarter. The firm had revenue of $1.60 million during the quarter.
About Abits Group
Abits Group Inc is a digital asset infrastructure company focused primarily on Bitcoin mining. The company develops and operates cryptocurrency mining activities using specialized application-specific integrated circuit (ASIC) hardware and related data-center infrastructure.
Its business includes deploying mining equipment, managing computing and power resources, and supporting the operational infrastructure required to validate transactions on the Bitcoin network. Abits Group has also pursued opportunities to expand and improve its mining capacity through equipment acquisitions and data-center development.
The company was formerly known as MGT Capital Investments, Inc and adopted the Abits Group name as it developed its focus on digital asset mining.
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