American Bitcoin (NASDAQ:ABTC) Director Justin Mateen Acquires 1,800,000 Shares of Stock

American Bitcoin Corp. (NASDAQ:ABTC) Director Justin Mateen acquired 1,800,000 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was acquired at an average price of $1.03 per share, with a total value of $1,854,000.00. Following the completion of the transaction, the director directly owned 2,524,975 shares of the company’s stock, valued at approximately $2,600,724.25. This represents a 248.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

American Bitcoin Stock Down 4.3%

Shares of NASDAQ ABTC traded down $0.05 during trading on Friday, hitting $1.12. The company had a trading volume of 3,844,563 shares, compared to its average volume of 13,207,021. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -2.49 and a beta of 3.81. The stock has a fifty day simple moving average of $1.44 and a two-hundred day simple moving average of $3.91. American Bitcoin Corp. has a fifty-two week low of $0.63 and a fifty-two week high of $14.65.

Analysts Set New Price Targets

ABTC has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research note on Monday, December 29th. Roth Mkm began coverage on American Bitcoin in a report on Wednesday, December 10th. They issued a “buy” rating and a $4.00 price objective on the stock. HC Wainwright initiated coverage on shares of American Bitcoin in a research note on Monday, February 2nd. They set a “buy” rating and a $4.00 target price on the stock. Finally, Wall Street Zen upgraded shares of American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, American Bitcoin presently has a consensus rating of “Hold” and an average target price of $4.00.

Hedge Funds Weigh In On American Bitcoin

A number of institutional investors have recently added to or reduced their stakes in the stock. United Capital Management of KS Inc. purchased a new position in shares of American Bitcoin during the 3rd quarter worth $4,886,000. CI Investments Inc. purchased a new stake in shares of American Bitcoin in the fourth quarter valued at about $120,000. Principle Wealth Partners LLC acquired a new stake in American Bitcoin during the fourth quarter worth about $85,000. Handelsbanken Fonder AB acquired a new stake in American Bitcoin during the fourth quarter worth about $73,000. Finally, SCS Capital Management LLC purchased a new position in American Bitcoin during the fourth quarter worth about $191,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

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.