American Bitcoin (NASDAQ:ABTC) Sets New 12-Month Low – What’s Next?

American Bitcoin Corp. (NASDAQ:ABTC)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $0.77 and last traded at $0.7729, with a volume of 10364421 shares trading hands. The stock had previously closed at $0.8117.

Wall Street Analyst Weigh In

ABTC has been the topic of several recent analyst reports. Zacks Research raised American Bitcoin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.00.

American Bitcoin Stock Down 7.9%

The firm’s fifty day moving average is $1.05 and its two-hundred day moving average is $1.26. The firm has a market cap of $724.97 million, a P/E ratio of -1.39 and a beta of 3.76.

American Bitcoin (NASDAQ:ABTC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). The company had revenue of $62.12 million during the quarter, compared to the consensus estimate of $74.85 million. American Bitcoin had a negative return on equity of 29.72% and a negative net margin of 69.42%. As a group, sell-side analysts forecast that American Bitcoin Corp. will post 0.01 EPS for the current year.

Institutional Trading of American Bitcoin

Institutional investors and hedge funds have recently bought and sold shares of the stock. HUB Investment Partners LLC bought a new stake in American Bitcoin during the 2nd quarter valued at approximately $114,000. Moore Capital Management LP bought a new position in shares of American Bitcoin in the 2nd quarter worth approximately $88,000. Tidal Investments LLC bought a new position in shares of American Bitcoin in the 2nd quarter worth approximately $87,000. Vident Advisory LLC purchased a new position in shares of American Bitcoin in the 2nd quarter valued at approximately $965,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of American Bitcoin in the 3rd quarter valued at approximately $192,000. 10.21% of the stock is currently owned by hedge funds and other institutional investors.

American Bitcoin Company Profile

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