Ebang International Holdings Inc. [EBON] is -47.56% lower this YTD. Is it still time to buy?


Ebang International Holdings Inc. [NASDAQ: EBON] closed the trading session at $0.54 on 06/16/22. The day’s price range saw the stock hit a low of $0.54, while the highest price level was $0.755. The company report on June 16, 2022 that Ebang International Accelerates its Global Collection and Payment Business Development.

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Ebang International Holdings Inc. (Nasdaq: EBON, the “Company”, “we” or “our”), a global blockchain technology company, today announced that the Company intends to obtain a Money Service Operator License (the “MSO License”) from the Hong Kong Customs and Excise Department. If and when obtained, the MSO License will allow the Company to operate a money service in Hong Kong as either a money changing service and/or a remittance service in Hong Kong. This decision to pursue the MSO License represents another major strategic initiative of the Company in further developing its global collection and payment business following the successful acquisition of Compass Global Holdings Pty Ltd (“Compass”), which acquisition enabled the Company to obtain an Australian Financial Services License (the “AFS License”) from the Australian Securities and Investments Commission (“ASIC”).

Mr. Dong Hu, Chairman, Chief Executive Officer and Chief Financial Officer of the Company, commented, “Australia is one of the fastest-growing financial derivatives trading markets in the world, with a mature and sound supervision and management mechanism. The successful acquisition of Compass allows us to have access to the foreign currency market resources, expand the diversification of our products and diversify our services. Aiming to reduce the impact of cryptocurrency price volatility on cryptocurrency companies like us, we have decided to further optimize our strategic plan to develop and operate a global collection and payment business. As a major financial market in Asia, Hong Kong is at the forefront of the world in terms of the maturity of regulations, the perfection of public transactions, the scale of asset management and the richness of financial products, and it is the preferred platform for many investors.”.

The stocks have a year to date performance of -47.56 percent and weekly performance of -32.19 percent. The stock has been moved at -60.58 percent over the last six months. The stock has performed -29.30 percent around the most recent 30 days and changed -52.20 percent over the most recent 3-months.

If compared to the average trading volume of 1.02M shares, EBON reached to a volume of 3866234 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ebang International Holdings Inc. [EBON]:

The Average True Range (ATR) for Ebang International Holdings Inc. is set at 0.10, with the Price to Sales ratio for EBON stock in the period of the last 12 months amounting to 1.46. The Price to Book ratio for the last quarter was 0.28.

EBON stock trade performance evaluation

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 -32.19. With this latest performance, EBON shares dropped by -29.30% in over the last four-week period, additionally sinking by -60.58% over the last 6 months – not to mention a drop of -85.48% 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 27.82, with the RSI for the last a single of trading hit 22.47, and the three-weeks RSI is set at 31.78 for Ebang International Holdings Inc. [EBON]. The present Moving Average for the last 50 days of trading for this stock 0.8543, while it was recorded at 0.6576 for the last single week of trading, and 1.3816 for the last 200 days.

Ebang International Holdings Inc. [EBON]: Insider Ownership positions

There are presently around $10 million, or 19.92% of EBON stock, in the hands of institutional investors. The top three institutional holders of EBON stocks are: STATE STREET CORP with ownership of 5,067,027, which is approximately 6.328% of the company’s market cap and around 0.08% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 4,837,418 shares of the stock with an approximate value of $3.19 million in EBON stocks shares; and RAFFERTY ASSET MANAGEMENT, LLC, currently with $0.95 million in EBON stock with ownership of nearly -11.643% of the company’s market capitalization.

18 institutional holders increased their position in Ebang International Holdings Inc. [NASDAQ:EBON] by around 4,234,322 shares. Additionally, 22 investors decreased positions by around 2,423,339 shares, while 6 investors held positions by with 8,210,345 shares. The mentioned changes placed institutional holdings at 14,868,006 shares, according to the latest SEC report filing. EBON stock had 6 new institutional investments in for a total of 237,054 shares, while 12 institutional investors sold positions of 662,880 shares during the same period.