Advent Technologies Holdings, Inc. (NASDAQ:ADN) Short Interest Up 12.1% in December

Advent Technologies Holdings, Inc. (NASDAQ:ADN – Get Rating) was the recipient of a large increase in short interest in the month of December. As of December 30th, there was short interest totalling 1,940,000 shares, an increase of 12.1% from the December 15th total of 1,730,000 shares. Based on an average daily volume of 508,600 shares, the short-interest ratio is presently 3.8 days. Currently, 7.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Advent Technologies

A number of institutional investors and hedge funds have recently modified their holdings of ADN. Bank of New York Mellon Corp raised its holdings in shares of Advent Technologies by 25.6% in the 1st quarter. Bank of New York Mellon Corp now owns 62,962 shares of the company’s stock valued at $147,000 after purchasing an additional 12,819 shares during the period. Bank of Montreal Can bought a new position in Advent Technologies in the 1st quarter valued at about $46,000. BlackRock Inc. raised its holdings in Advent Technologies by 19.4% in the 1st quarter. BlackRock Inc. now owns 1,752,786 shares of the company’s stock valued at $4,067,000 after acquiring an additional 285,184 shares during the period. Ergoteles LLC bought a new position in Advent Technologies in the 1st quarter valued at about $184,000. Finally, American International Group Inc. raised its holdings in Advent Technologies by 89.7% in the 1st quarter. American International Group Inc. now owns 15,851 shares of the company’s stock valued at $37,000 after acquiring an additional 7,494 shares during the period. 22.56% of the stock is owned by institutional investors.

Advent Technologies Price Performance

Shares of NASDAQ:ADN opened at $1.83 on Friday. The company’s 50-day moving average price is $1.88 and its two-hundred day moving average price is $2.44. Advent Technologies has a one year low of $1.13 and a one year high of $4.83. The stock has a market capitalization of $94.64 million, a PE ratio of -2.61 and a beta of -0.02.

Advent Technologies (NASDAQ:ADN – Get Rating) last issued its quarterly earnings results on Monday, November 14th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The firm had revenue of $2.40 million for the quarter. Advent Technologies had a negative net margin of 406.72% and a negative return on equity of 41.20%. On average, analysts anticipate that Advent Technologies will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Credit Suisse Group cut their price target on shares of Advent Technologies from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 25th.

About Advent Technologies

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Advent Technologies Holdings, Inc operates as an advanced materials and technology development company. It develops, manufactures and assembles hydrogen fuel cell components. The company was founded on June 18, 2018 and is headquartered in Boston, MA.