United Capital Management of KS Inc. Purchases Shares of 724,975 American Bitcoin Corp. $ABTC

United Capital Management of KS Inc. bought a new stake in shares of American Bitcoin Corp. (NASDAQ:ABTC) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 724,975 shares of the company’s stock, valued at approximately $4,886,000. United Capital Management of KS Inc. owned approximately 4.38% of American Bitcoin as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ABTC. Vident Advisory LLC acquired a new stake in American Bitcoin during the second quarter valued at approximately $965,000. HUB Investment Partners LLC acquired a new stake in American Bitcoin in the 2nd quarter valued at $114,000. Moore Capital Management LP bought a new stake in American Bitcoin in the second quarter valued at $88,000. Tidal Investments LLC acquired a new position in American Bitcoin during the second quarter worth $87,000. Finally, JPMorgan Chase & Co. acquired a new position in American Bitcoin during the third quarter worth $192,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

Analysts Set New Price Targets

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

American Bitcoin Trading Up 1.7%

American Bitcoin stock opened at $1.17 on Friday. The company has a market cap of $1.09 billion, a PE ratio of -2.60 and a beta of 3.81. American Bitcoin Corp. has a 1 year low of $0.63 and a 1 year high of $14.65. The company’s 50-day moving average is $1.44 and its two-hundred day moving average is $3.91.

Insider Buying and Selling

In other American Bitcoin news, Director Justin Mateen bought 1,800,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average price of $1.03 per share, with a total value of $1,854,000.00. Following the acquisition, the director owned 2,524,975 shares of the company’s stock, valued at approximately $2,600,724.25. The trade was a 248.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Busch purchased 240,000 shares of American Bitcoin stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average price of $0.96 per share, for a total transaction of $230,400.00. Following the completion of the transaction, the director directly owned 1,240,975 shares in the company, valued at $1,191,336. The trade was a 23.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 2,406,000 shares of company stock worth $2,678,380. Insiders own 15.00% of the company’s stock.

American Bitcoin Profile

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