Ebang International Holdings Inc. [EBON] fell -53.62% so far this year. What now?


Ebang International Holdings Inc. [NASDAQ: EBON] closed the trading session at $0.48 on 06/28/22. The day’s price range saw the stock hit a low of $0.4025, while the highest price level was $0.4887. The company report on June 24, 2022 that Ebang International Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency.

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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 had received a notification letter (the “Notice”), dated June 17, 2022, from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is currently not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market, as set forth under Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”), because the closing bid price of the Company’s Class A ordinary shares, par value HK$0.001 per share (“Class A ordinary shares”), has been below US$1.00 per share for a period of 30 consecutive business days.

The Company is issuing this press release pursuant to Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of the Notice. The Notice has no immediate effect on the listing of the Class A ordinary shares, which will continue to trade uninterrupted on the Nasdaq Global Select Market under the ticker “EBON.”.

The stocks have a year to date performance of -53.62 percent and weekly performance of -9.70 percent. The stock has been moved at -59.86 percent over the last six months. The stock has performed -37.14 percent around the most recent 30 days and changed -67.50 percent over the most recent 3-months.

If compared to the average trading volume of 1.38M shares, EBON reached to a volume of 4385837 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 0.09, with the Price to Sales ratio for EBON stock in the period of the last 12 months amounting to 1.29. The Price to Book ratio for the last quarter was 0.25.

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 -9.70. With this latest performance, EBON shares dropped by -37.14% in over the last four-week period, additionally sinking by -59.86% over the last 6 months – not to mention a drop of -85.30% 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 36.95, with the RSI for the last a single of trading hit 38.55, and the three-weeks RSI is set at 36.95 for Ebang International Holdings Inc. [EBON]. The present Moving Average for the last 50 days of trading for this stock 0.7646, while it was recorded at 0.4455 for the last single week of trading, and 1.3084 for the last 200 days.

Ebang International Holdings Inc. [EBON]: An insightful look at the core 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 +3.95 and a Gross Margin at +56.80. Ebang International Holdings Inc.’s Net Margin is presently recorded at +8.61.

Return on Equity for this stock inclined to 1.90, with Return on Assets sitting at 1.67.

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

There are presently around $6 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 $2.1 million in EBON stocks shares; and RAFFERTY ASSET MANAGEMENT, LLC, currently with $0.62 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.