Abits Group Inc (NASDAQ: ABTS)’s stock price has soared by 14.30 in relation to previous closing price of 0.63. Nevertheless, the company has seen a gain of 24.80% in its stock price over the last five trading days. globenewswire.com reported 2024-10-25 that Hong Kong, Oct. 25, 2024 (GLOBE NEWSWIRE) — Abits Group Inc. (NASDAQ: ABTS), a leading digital data center operator specializing in Bitcoin self-mining operations in the United States, is pleased to announce the deployment of 500 state-of-the-art S19XP mining machines at its Duff, Tennessee site. These new additions will enhance the company’s total hash rate by 70,500 terahashes (TH), significantly boosting operational capacity.
Is It Worth Investing in Abits Group Inc (NASDAQ: ABTS) Right Now?
The 36-month beta value for ABTS is at 2.68.
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The public float for ABTS is 29.62M, and currently, shorts hold a 1.61% of that float. The average trading volume for ABTS on November 13, 2024 was 94.29K shares.
ABTS’s Market Performance
The stock of Abits Group Inc (ABTS) has seen a 24.80% increase in the past week, with a 50.02% rise in the past month, and a 50.15% gain in the past quarter. The volatility ratio for the week is 14.40%, and the volatility levels for the past 30 days are at 15.36% for ABTS. The simple moving average for the past 20 days is 35.07% for ABTS’s stock, with a 11.82% simple moving average for the past 200 days.
ABTS Trading at 43.77% from the 50-Day Moving Average
After a stumble in the market that brought ABTS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -54.99% of loss for the given period.
Volatility was left at 15.36%, however, over the last 30 days, the volatility rate increased by 14.40%, as shares surge +62.97% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +45.84% upper at present.
During the last 5 trading sessions, ABTS rose by +24.78%, which changed the moving average for the period of 200-days by -30.77% in comparison to the 20-day moving average, which settled at $0.5331. In addition, Abits Group Inc saw -36.84% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for ABTS
Current profitability levels for the company are sitting at:
- -3.1 for the present operating margin
- -2.22 for the gross margin
The net margin for Abits Group Inc stands at -7.48. The total capital return value is set at -0.46. Equity return is now at value -57.31, with -54.79 for asset returns.
Currently, EBITDA for the company is -0.24 million with net debt to EBITDA at 3.73. When we switch over and look at the enterprise to sales, we see a ratio of 14.7. The receivables turnover for the company is 2.17for trailing twelve months and the total asset turnover is 0.14. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.83.
Conclusion
In conclusion, Abits Group Inc (ABTS) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
