Ebang International Holdings Inc. [EBON] moved down -4.52: Why It’s Important

Ebang International Holdings Inc. [NASDAQ: EBON] stock went on a downward path that fall over -4.52% on Tuesday, amounting to a one-week price decrease of less than -14.21%. The company report on October 2, 2021 that Ebang International Holdings Inc. Reports Unaudited Financial Results for The First Six Months of Fiscal Year 2021.

Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a global application-specific integrated circuit (“ASIC”) chip design company and a manufacturer of high-performance Bitcoin mining machines, announced its unaudited financial results for the first six months of fiscal year 2021.

Operational and Financial Highlights for the First Six Months of Fiscal Year 2021.

Over the last 12 months, EBON stock dropped by -81.63%.

The market cap for the stock reached $235.26 million, with 139.21 million shares outstanding and 129.34 million shares in the current float. Compared to the average trading volume of 3.54M shares, EBON stock reached a trading volume of 7412955 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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

The Average True Range (ATR) for Ebang International Holdings Inc. is set at 0.15, with the Price to Sales ratio for EBON stock in the period of the last 12 months amounting to 12.38.

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 -14.21. With this latest performance, EBON shares dropped by -27.47% in over the last four-week period, additionally sinking by -63.81% over the last 6 months – not to mention a drop of -81.63% in the past year of trading.

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 30.53, with the RSI for the last a single of trading hit 24.58, and the three-weeks RSI is set at 34.69 for Ebang International Holdings Inc. [EBON]. The present Moving Average for the last 50 days of trading for this stock 2.2905, while it was recorded at 1.8220 for the last single week of trading, and 4.3016 for the last 200 days.

Insight into Ebang International Holdings Inc. Fundamentals:

Ebang International Holdings Inc. [EBON] Insider Position Details

There are presently around $30 million, or 12.93% of EBON stock, in the hands of institutional investors. The top three institutional holders of EBON stocks are: TOROSO INVESTMENTS, LLC with ownership of 5,060,868, which is approximately 35.388% of the company’s market cap and around 7.09% of the total institutional ownership; STATE STREET CORP, holding 4,860,070 shares of the stock with an approximate value of $8.21 million in EBON stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $2.39 million in EBON stock with ownership of nearly 4.729% of the company’s market capitalization.

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34 institutional holders increased their position in Ebang International Holdings Inc. [NASDAQ:EBON] by around 9,714,449 shares. Additionally, 31 investors decreased positions by around 1,834,956 shares, while 5 investors held positions by with 5,932,881 shares. The mentioned changes placed institutional holdings at 17,482,286 shares, according to the latest SEC report filing. EBON stock had 21 new institutional investments in for a total of 2,644,171 shares, while 21 institutional investors sold positions of 669,043 shares during the same period.

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