American Bitcoin (NASDAQ:ABTC) Sees Strong Trading Volume – What’s Next?

American Bitcoin Corp. (NASDAQ:ABTCGet Free Report) shares saw an uptick in trading volume on Thursday . 6,099,392 shares changed hands during mid-day trading, an increase of 97% from the previous session’s volume of 3,094,682 shares.The stock last traded at $2.43 and had previously closed at $2.39.

Analyst Upgrades and Downgrades

ABTC has been the subject of several analyst reports. Wall Street Zen upgraded American Bitcoin from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Weiss Ratings restated a “sell (d)” rating on shares of American Bitcoin in a research report on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Check Out Our Latest Analysis on ABTC

American Bitcoin Stock Performance

The stock’s fifty day moving average price is $5.24 and its 200-day moving average price is $5.85. The firm has a market cap of $2.23 billion, a PE ratio of -5.33 and a beta of 3.46.

Institutional Investors Weigh In On American Bitcoin

Institutional investors have recently modified their holdings of the company. Quent Capital LLC purchased a new position in American Bitcoin in the 3rd quarter valued at approximately $52,000. Bank of America Corp DE purchased a new position in shares of American Bitcoin in the third quarter valued at $61,000. NewEdge Advisors LLC acquired a new position in shares of American Bitcoin during the 3rd quarter worth $71,000. Dimensional Fund Advisors LP purchased a new stake in shares of American Bitcoin in the 3rd quarter worth about $95,000. Finally, Integrated Wealth Concepts LLC purchased a new position in American Bitcoin during the 3rd quarter valued at about $95,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

American Bitcoin Company Profile

(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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