Ebang International Holdings Inc.

Ebang International Holdings Inc. (NASDAQ: EBON) is a blockchain technology business with significant application-specific integrated circuit (ASIC) chip design capabilities. It has grown into a global bitcoin mining machine manufacturer with consistent wafer foundry capacity.

Key Highlights

• The company's total revenue increased by 65.69% during H1FY21 (ended June 30, 2021) to USD 18.30 million from USD 11.04 million during H1FY20, primarily due to the higher demand for its Bitcoin mining machines.
• Its net loss declined to USD 4.26 million during H1FY21 vs. USD 6.96 million during H1FY20.
• The total computing power sold during H1FY21 was 0.80 million Thash/s, up 220.00% from 0.25 million Thash/s during H1FY20.
• The stock is currently trading below its crucial short-term (50-day) and long-term (200-day) DMA support levels, and its RSI Index is at 38.02.
• Stock is leaning towards the lower band of the 52-week range of USD 1.09 to USD 13.70.
• Its stock price has fallen 64.78% and 87.56% in the past six and nine months, respectively.

Technical Price Chart (as of December 16, 2021). Analysis by Kalkine

Conclusion: Considering the volatile bitcoin prices, huge losses, regulatory actions on cryptocurrencies, and other technical indicators, we recommend an "Avoid" rating on the stock at the current price of USD 1.31, down 4.38%, as of December 16, 2021, at 1:37 PM ET.

*The reference data in this report has been partly sourced from REFINITIV.

Future FinTech Group Inc.

Future FinTech Group Inc. (NASDAQ: FTFT) is a China-based company that specializes in blockchain technology research, development, and application. The company's main businesses include a shopping platform, Chain Cloud Mall (CCM), a blockchain-based application incubator and a digital payment system, and the application and development of blockchain-based e-commerce technology and financial technology.

Key Highlights

• The company reported a massive growth of 270.31x in revenue to USD 11.75 million in Q3FY21 (ended September 30, 2021) compared to USD 43.45 thousand in Q3FY20. However, the financial statements for the period ending Q3FY20 have undergone some reclassifications.
• Net loss for Q3FY21 expanded to USD 10.31 million from USD 2.44 million in Q3FY20.
• On December 01, 2021, Faya Digital Technology Co., Ltd., a comprehensive Research & Development company, and FTFT have signed a strategic cooperative Letter of Intent to create a metaverse research and operations platform.
• Negative EBITDA Margin of 58.3% in Q3FY21 vs. industry median of 1.8%.
• Stock is currently trading below its crucial long-term as well as short-term support levels of 50-day and 200-day DMA levels, a bearish indicator.
• Stock is currently leaning towards the lower band of the 52-week range of USD 0.98 to USD 11.29.
• FTFT's share price has decreased 71.43% and 83.65% in the past six and nine months, respectively.

Technical Price Chart (as of December 16, 2021). Analysis by Kalkine

Conclusion: Considering the significant correction in the stock price, no visibility into profitability, lackluster fundamentals, technical indicators and associated risk, we recommend an "Avoid" rating on the stock at the current price of USD 1.04, down 0.95%, as of December 16, 2021, at 2:09 PM ET. 

*The reference data in this report has been partly sourced from REFINITIV.