American Bitcoin (NASDAQ:ABTC) Rating Lowered to “Sell” at Wall Street Zen

American Bitcoin (NASDAQ:ABTCGet Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

American Bitcoin Stock Up 2.5%

American Bitcoin stock opened at $4.86 on Friday. The company has a fifty day simple moving average of $6.20 and a 200-day simple moving average of $5.78. The firm has a market capitalization of $80.48 million, a price-to-earnings ratio of -10.80 and a beta of 3.84. American Bitcoin has a 52-week low of $0.63 and a 52-week high of $14.65.

American Bitcoin (NASDAQ:ABTCGet Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.35) earnings per share for the quarter. The firm had revenue of $1.38 million for the quarter. On average, research analysts anticipate that American Bitcoin will post -0.76 EPS for the current fiscal year.

Institutional Trading of American Bitcoin

Several hedge funds have recently modified their holdings of ABTC. EWA LLC purchased a new stake in American Bitcoin during the 2nd quarter worth about $29,000. Quent Capital LLC purchased a new position in American Bitcoin in the third quarter worth $52,000. Tidal Investments LLC purchased a new position in shares of American Bitcoin in the second quarter valued at $87,000. Moore Capital Management LP purchased a new stake in American Bitcoin in the 2nd quarter valued at approximately $88,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of American Bitcoin in the third quarter valued at approximately $95,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

About American Bitcoin

(Get Free Report)

Gryphon Digital Mining is an innovative venture in the bitcoin space. Gryphon Digital Mining, formerly known as Akerna Corp., is based in DENVER.

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