Ebang International Holdings Inc. [NASDAQ: EBON] gained 23.43% or 1.27 points to close at $6.69 with a heavy trading volume of 26122748 shares. The company report on February 11, 2021 that Ebang International Announces Pricing of Follow-on Public Offering.
Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a blockchain technology company in the global market, announced its pricing of a best-effort follow-on public offering of up to a maximum of 16 million units (which we intend to increase to a maximum of 19.2 million units) at a purchase price of US$5.00 per unit. Each unit consists of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share of the Company. Each two warrants will have an exercise price of US$5.25 per Class A ordinary share. On February 11, 2021, the Company entered into Securities Purchase Agreements with institutional investors that have agreed to purchase an aggregate of 14 million units at the initial closing. The units and the warrants have been registered pursuant to a registration statement declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on February 10, 2021. The Company expects to close this initial closing of the offering on or around February 16, 2021. The Company may hold one or more additional closings until the maximum number of units are sold or the offering is terminated. Our Class A ordinary shares are listed on the Nasdaq Global Select Market under the symbol “EBON.”.
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On February 11, 2021, we also entered into a Placement Agent Agreement with Univest Securities, LLC, as representative of the several placement agents identified therein, including Lake Street Capital Markets, LLC.
It opened the trading session at $5.68, the shares rose to $6.80 and dropped to $5.62, the range by which the price of stock traded the whole day. The daily chart for EBON points out that the company has recorded 41.14% gains over the past six months. However, it is still -76.05% lower than its most recent low trading price.
If we look at the average trading volume of 6.25M shares, EBON reached to a volume of 26122748 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Ebang International Holdings Inc. [EBON]:
The Average True Range (ATR) for Ebang International Holdings Inc. is set at 0.77, with the Price to Sales ratio for EBON stock in the period of the last 12 months amounting to 6.32.
Trading performance analysis for EBON stock
Ebang International Holdings Inc. [EBON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.75. With this latest performance, EBON shares gained by 16.96% in over the last four-week period, additionally plugging by 41.14% over the last 6 months.
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 59.59, with the RSI for the last a single of trading hit 63.07, and the three-weeks RSI is set at 56.84 for Ebang International Holdings Inc. [EBON]. The present Moving Average for the last 50 days of trading for this stock 5.23, while it was recorded at 6.11 for the last single week of trading.
Ebang International Holdings Inc. [EBON]: A deeper dive into fundamental analysis
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.
An analysis of insider ownership at Ebang International Holdings Inc. [EBON]
There are presently around $3 million, or 0.80% of EBON stock, in the hands of institutional investors. The top three institutional holders of EBON stocks are: BLACKROCK INC. with ownership of 141,088, which is approximately 2440.753% 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 $0.37 million in EBON stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.32 million in EBON stock with ownership of nearly 11.292% of the company’s market capitalization.
12 institutional holders increased their position in Ebang International Holdings Inc. [NASDAQ:EBON] by around 328,571 shares. Additionally, 3 investors decreased positions by around 172,948 shares, while 0 investors held positions by with 124,243 shares. The mentioned changes placed institutional holdings at 377,276 shares, according to the latest SEC report filing. EBON stock had 9 new institutional investments in for a total of 187,897 shares, while 3 institutional investors sold positions of 172,948 shares during the same period.