Friday, January 22, 2021

Ebang International Holdings Inc. [EBON] moved down -6.76: Why It’s Important

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Ebang International Holdings Inc. [NASDAQ: EBON] price plunged by -6.76 percent to reach at -$0.33. The company report on November 30, 2020 that Ebang International Holdings Inc. Acquires Exclusive Authorization of Patent Technology in Korea.

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Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a leading Bitcoin mining machine producer in the global market in terms of computing power sold in 2019*, announced that the Company has entered into a technology license agreement (the “Agreement”) with Circle Line International Limited (“CL”) on November 27, 2020 to obtain CL’s exclusive license of its proprietary patent, Korean Patent Reg. No. 10-2137956, in Korea. Pursuant to the Agreement, CL grants the Company exclusive right to use the patent in Korea and export the product from Korea to other countries.


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Mr. Dong Hu, Chairman and CEO of the Company, commented, “We are excited to acquire the exclusive authorization of Korean Patent Reg. No. 10-2137956 from CL. The core of this patent is AsicBoost, a method that can increase performance of Bitcoin mining by about 20%. The performance gain is achieved through a high-level optimization of the Bitcoin mining algorithm which allows for drastic reduction in gate count on the mining chip. The exclusive authorization of this patent reflects our determination to continue to protect the legitimate rights and interests of patent holders and strive to maintain fair market competition, and is expected to lay a solid foundation for the Company’s continuous offering of leading Bitcoin mining machines.”.

A sum of 2783082 shares traded at recent session while its average daily volume was at 996.62K shares. Ebang International Holdings Inc. shares reached a high of $5.03 and dropped to a low of $4.38 until finishing in the latest session at $4.55.

Guru’s Opinion on Ebang International Holdings Inc. [EBON]:

The Average True Range (ATR) for Ebang International Holdings Inc. is set at 0.63, with the Price to Sales ratio for EBON stock in the period of the last 12 months amounting to 3.93.

EBON Stock Performance Analysis:

Ebang International Holdings Inc. [EBON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.33.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EBON stock in for the last two-week period is set at 23.14, with the RSI for the last a single of trading hit 19.90, and the three-weeks RSI is set at 28.83 for Ebang International Holdings Inc. [EBON]. The present Moving Average for the last 50 days of trading for this stock 8.39, while it was recorded at 4.86 for the last single week of trading.

Insight into Ebang International Holdings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Ebang International Holdings Inc. [EBON] shares currently have an operating margin of -46.43 and a Gross Margin at -28.02. Ebang International Holdings Inc.’s Net Margin is presently recorded at -38.88.

Return on Total Capital for EBON is now -69.96, given the latest momentum, and Return on Invested Capital for the company is -83.00. Return on Equity for this stock declined to -106.61, with Return on Assets sitting at -36.54. When it comes to the capital structure of this company, Ebang International Holdings Inc. [EBON] has a Total Debt to Total Equity ratio set at 131.76. Additionally, EBON Total Debt to Total Capital is recorded at 56.85, with Total Debt to Total Assets ending up at 28.68. Long-Term Debt to Equity for the company is recorded at 100.08, with the Long-Term Debt to Total Capital now at 43.18.

Reflecting on the efficiency of the workforce at the company, Ebang International Holdings Inc. [EBON] managed to generate an average of -$147,747 per employee. Receivables Turnover for the company is 3.22 with a Total Asset Turnover recorded at a value of 0.94.

Ebang International Holdings Inc. [EBON] Insider Position Details

There are presently around $2 million, or 0.59% of EBON stock, in the hands of institutional investors. The top three institutional holders of EBON stocks are: CSAT INVESTMENT ADVISORY, L.P. with ownership of 151,888, which is approximately New of the company’s market cap and around 11.69% of the total institutional ownership; SQUAREPOINT OPS LLC, holding 55,438 shares of the stock with an approximate value of $0.25 million in EBON stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.19 million in EBON stock with ownership of nearly New of the company’s market capitalization.

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11 institutional holders increased their position in Ebang International Holdings Inc. [NASDAQ:EBON] by around 334,224 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 334,224 shares, according to the latest SEC report filing. EBON stock had 11 new institutional investments in for a total of 334,224 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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