Abpro Holdings Inc. (NASDAQ:ABP) Short Interest Down 41.9% in December

Abpro Holdings Inc. (NASDAQ:ABP) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 19,055 shares, a drop of 41.9% from the November 30th total of 32,776 shares. Based on an average trading volume of 24,062 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.8% of the shares of the stock are short sold. Currently, 0.8% of the shares of the stock are short sold. Based on an average trading volume of 24,062 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On Abpro

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Abpro during the 1st quarter worth $30,000. Geode Capital Management LLC boosted its holdings in Abpro by 127.6% in the second quarter. Geode Capital Management LLC now owns 196,494 shares of the company’s stock valued at $42,000 after acquiring an additional 110,159 shares during the last quarter. Finally, Yorkville Advisors Global LP purchased a new stake in Abpro during the third quarter valued at about $192,000. Institutional investors and hedge funds own 23.30% of the company’s stock.

Abpro Trading Down 2.7%

Abpro stock opened at $4.60 on Monday. The stock has a 50-day moving average price of $5.83 and a 200 day moving average price of $6.42. Abpro has a 52 week low of $4.51 and a 52 week high of $153.90. The stock has a market cap of $12.51 million, a PE ratio of -1.09 and a beta of -0.02.

Abpro (NASDAQ:ABP) last released its earnings results on Friday, November 14th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.57.

Wall Street Analysts Forecast Growth

ABP has been the topic of a number of research analyst reports. Maxim Group downgraded Abpro from a “buy” rating to a “hold” rating in a research note on Tuesday, October 21st. Wall Street Zen downgraded Abpro to a “strong sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Abpro in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Abpro presently has a consensus rating of “Reduce” and an average price target of $120.00.

About Abpro

Abpro Holdings Inc is a biotechnology company. The company’s mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro Holdings Inc, formerly known as Atlantic Coastal Acquisition Corp. II, is based in WOBURN, Mass.