Abits Group (NASDAQ:ABTS – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.40) EPS for the quarter, FiscalAI reports. The firm had revenue of $1.60 million for the quarter.
Abits Group Stock Performance
ABTS traded up $0.01 during trading hours on Thursday, hitting $1.20. 6,628 shares of the stock were exchanged, compared to its average volume of 1,057,485. The stock has a 50-day simple moving average of $1.32 and a 200-day simple moving average of $1.27. Abits Group has a 12 month low of $0.76 and a 12 month high of $9.16.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded Abits Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company has an average rating of “Sell”.
Read Our Latest Research Report on ABTS
Abits Group Company Profile
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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