Ebang International Holdings Inc. [EBON] is 31.47% higher this YTD. Is it still time to buy?

Ebang International Holdings Inc. [NASDAQ: EBON] gained 15.65% or 1.08 points to close at $7.98 with a heavy trading volume of 20561638 shares. The company report on February 25, 2021 that Ebang International to Launch Litecoin and Dogecoin Mining Business.

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Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a blockchain technology company in the global market, held a board meeting and passed a resolution (the “Resolution”) to launch a Litecoin and Dogecoin mining business (the “Business”). According to the Resolution, the Company plans to operate its Litecoin (“LTC”) and Dogecoin (“Doge”) mining business by adopting a combination of deploying self-manufactured mining machines and mining machines purchased from other manufacturers as well as leasing computing powers from other mining farms and allow LTC and Doge to be mined simultaneously.

Mr. Dong Hu, Chairman and CEO of the Company, commented, “We will develop LTC and Doge mining on the basis of our Bitcoin mining business. The development of the Business will further promote our related cryptocurrency-focused businesses and increase our revenue. We believe this move will accelerate the Company’s transformation from solely a hardware manufacturer to a diversified and vertically integrated blockchain company with comprehensive involvements in the blockchain industry value chain.”.

It opened the trading session at $7.58, the shares rose to $8.19 and dropped to $7.20, the range by which the price of stock traded the whole day. The daily chart for EBON points out that the company has recorded 29.76% gains over the past six months. However, it is still -110.0% lower than its most recent low trading price.

If we look at the average trading volume of 13.25M shares, EBON reached to a volume of 20561638 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 1.42, with the Price to Sales ratio for EBON stock in the period of the last 12 months amounting to 7.54.

Trading performance analysis for EBON stock

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 -5.11. With this latest performance, EBON shares gained by 52.87% in over the last four-week period, additionally plugging by 29.76% 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 54.59, with the RSI for the last a single of trading hit 53.73, and the three-weeks RSI is set at 54.68 for Ebang International Holdings Inc. [EBON]. The present Moving Average for the last 50 days of trading for this stock 6.11, while it was recorded at 7.28 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 $11 million, or 0.80% of EBON stock, in the hands of institutional investors. The top three institutional holders of EBON stocks are: TOROSO INVESTMENTS, LLC with ownership of 661,707, which is approximately New of the company’s market cap and around 11.69% of the total institutional ownership; D. E. SHAW & CO., INC., holding 150,009 shares of the stock with an approximate value of $1.2 million in EBON stocks shares; and BLACKROCK INC., currently with $1.13 million in EBON stock with ownership of nearly 2440.753% of the company’s market capitalization.

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15 institutional holders increased their position in Ebang International Holdings Inc. [NASDAQ:EBON] by around 1,150,231 shares. Additionally, 5 investors decreased positions by around 199,395 shares, while 1 investors held positions by with 29,185 shares. The mentioned changes placed institutional holdings at 1,320,441 shares, according to the latest SEC report filing. EBON stock had 9 new institutional investments in for a total of 975,487 shares, while 4 institutional investors sold positions of 190,417 shares during the same period.

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