American Bitcoin Corp. (NASDAQ:ABTC) Receives Average Rating of “Hold” from Analysts

Shares of American Bitcoin Corp. (NASDAQ:ABTC) have been given a consensus rating of “Hold” by the five analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $45.00.

Several research analysts have weighed in on the company. Wall Street Zen downgraded American Bitcoin from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Maxim Group set a $15.00 price objective on shares of American Bitcoin and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Weiss Ratings restated a “sell (d)” rating on shares of American Bitcoin in a research note on Wednesday, June 24th. Finally, Zacks Research raised shares of American Bitcoin from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th.

Insider Transactions at American Bitcoin

In other news, Director Justin Mateen acquired 162,438 shares of American Bitcoin stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $6.19 per share, for a total transaction of $1,005,491.22. Following the completion of the transaction, the director directly owned 492,297 shares in the company, valued at approximately $3,047,318.43. This trade represents a 49.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Bitcoin

Several institutional investors and hedge funds have recently added to or reduced their stakes in ABTC. J. Derek Lewis & Associates Inc. acquired a new stake in shares of American Bitcoin in the 4th quarter valued at approximately $39,000. Forty three Eighteen Advisors LLC acquired a new position in American Bitcoin during the fourth quarter worth $34,000. Caitong International Asset Management Co. Ltd grew its holdings in American Bitcoin by 2,180,227.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 479,672 shares of the company’s stock worth $815,000 after acquiring an additional 479,650 shares during the period. Aristides Capital LLC purchased a new position in American Bitcoin in the fourth quarter worth $200,000. Finally, Marathon Trading Investment Management LLC purchased a new position in American Bitcoin in the fourth quarter worth $67,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

American Bitcoin Stock Performance

Shares of ABTC opened at $7.26 on Friday. American Bitcoin has a fifty-two week low of $4.92 and a fifty-two week high of $217.80. The firm has a 50-day simple moving average of $8.16 and a 200-day simple moving average of $13.66. The company has a market capitalization of $528.67 million, a price-to-earnings ratio of -2.38 and a beta of 3.86.

American Bitcoin (NASDAQ:ABTC) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.80) earnings per share (EPS) for the quarter. The company had revenue of $67.01 million during the quarter. American Bitcoin had a negative net margin of 71.75% and a negative return on equity of 29.89%.

About American Bitcoin

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