Abpro Holdings Inc. (NASDAQ:ABP) Short Interest Down 47.0% in October

Abpro Holdings Inc. (NASDAQ:ABP) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 1,690,000 shares, a decline of 47.0% from the September 30th total of 3,190,000 shares. Based on an average daily volume of 7,510,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 4.9% of the shares of the company are short sold. Currently, 4.9% of the shares of the company are short sold. Based on an average daily volume of 7,510,000 shares, the days-to-cover ratio is presently 0.2 days.

Abpro Trading Down 7.0%

ABP stock opened at $0.18 on Friday. The firm has a 50 day moving average of $0.21 and a 200-day moving average of $0.23. Abpro has a 12-month low of $0.15 and a 12-month high of $13.00. The company has a market cap of $14.61 million, a price-to-earnings ratio of -2.28 and a beta of 0.02.

Abpro (NASDAQ:ABP) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABP. Maxim Group lowered Abpro from a “buy” rating to a “hold” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Abpro in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $4.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Abpro stock. Goldman Sachs Group Inc. acquired a new position in shares of Abpro Holdings Inc. (NASDAQ:ABP) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 72,106 shares of the company’s stock, valued at approximately $30,000. Goldman Sachs Group Inc. owned about 0.14% of Abpro at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.30% of the company’s stock.

Abpro Company Profile

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.