Insider Buying: American Bitcoin (NASDAQ:ABTC) Director Acquires 240,000 Shares of Stock

American Bitcoin Corp. (NASDAQ:ABTC) Director Richard Busch bought 240,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average price of $0.96 per share, with a total value of $230,400.00. Following the completion of the transaction, the director directly owned 1,240,975 shares of the company’s stock, valued at $1,191,336. This trade represents a 23.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Richard Busch also recently made the following trade(s):

• On Wednesday, March 4th, Richard Busch purchased 90,000 shares of American Bitcoin stock. The stock was acquired at an average cost of $1.15 per share, with a total value of $103,500.00.
• On Monday, December 22nd, Richard Busch purchased 101,000 shares of American Bitcoin stock. The stock was acquired at an average price of $1.98 per share, for a total transaction of $199,980.00.
• On Tuesday, December 16th, Richard Busch bought 175,000 shares of American Bitcoin stock. The shares were bought at an average cost of $1.66 per share, with a total value of $290,500.00.

American Bitcoin Trading Up 11.7%

ABTC stock opened at $1.15 on Thursday. The firm has a 50-day moving average of $1.45 and a two-hundred day moving average of $3.93. The firm has a market capitalization of $1.07 billion, a PE ratio of -2.56 and a beta of 3.81. American Bitcoin Corp. has a one year low of $0.63 and a one year high of $14.65.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ABTC. Wall Street Zen raised American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. HC Wainwright started coverage on American Bitcoin in a research report on Monday, February 2nd. They set a “buy” rating and a $4.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research note on Monday, December 29th. Finally, Roth Mkm began coverage on shares of American Bitcoin in a research report on Wednesday, December 10th. They issued a “buy” rating and a $4.00 price target for the company. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.00.

Institutional Investors Weigh In On American Bitcoin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quent Capital LLC acquired a new stake in shares of American Bitcoin during the 3rd quarter valued at about $52,000. Bank of America Corp DE bought a new position in American Bitcoin during the third quarter valued at approximately $61,000. NewEdge Advisors LLC bought a new position in American Bitcoin during the third quarter valued at approximately $71,000. Dimensional Fund Advisors LP acquired a new stake in American Bitcoin in the third quarter valued at approximately $95,000. Finally, Integrated Wealth Concepts LLC bought a new stake in American Bitcoin in the third quarter worth approximately $95,000. 10.21% of the stock is owned by hedge funds and other institutional investors.

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.