American Bitcoin (NASDAQ:ABTC) Director Justin Mateen Acquires 162,438 Shares

American Bitcoin Corp. (NASDAQ:ABTC) Director Justin Mateen bought 162,438 shares of the stock in a transaction on Thursday, August 6th. The shares were acquired at an average cost of $6.19 per share, with a total value of $1,005,491.22. Following the purchase, the director owned 492,297 shares of the company’s stock, valued at approximately $3,047,318.43. This represents a 49.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Justin Mateen also recently made the following trade(s):

• On Wednesday, August 5th, Justin Mateen bought 144,543 shares of American Bitcoin stock. The stock was bought at an average cost of $6.40 per share, with a total value of $925,075.20.

American Bitcoin Trading Up 4.5%

ABTC opened at $6.47 on Friday. The company’s 50 day moving average is $8.88 and its 200-day moving average is $14.24. American Bitcoin Corp. has a 1-year low of $4.92 and a 1-year high of $217.80. The company has a market cap of $471.15 million, a P/E ratio of -2.12 and a beta of 3.86.

American Bitcoin (NASDAQ:ABTC) last announced its quarterly earnings results on Monday, August 3rd. The company reported ($0.80) earnings per share (EPS) for the quarter. The company had revenue of $67.01 million for the quarter. American Bitcoin had a negative net margin of 71.75% and a negative return on equity of 29.89%.

Wall Street Analyst Weigh In

ABTC has been the topic of a number of research reports. Maxim Group set a $15.00 target price on shares of American Bitcoin and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Wall Street Zen cut American Bitcoin from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research raised American Bitcoin from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of American Bitcoin in a research report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.00.

Hedge Funds Weigh In On American Bitcoin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of American Bitcoin by 1,031.4% during the fourth quarter. CWM LLC now owns 17,062 shares of the company’s stock valued at $29,000 after acquiring an additional 15,554 shares during the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of American Bitcoin in the fourth quarter worth $33,000. Forty three Eighteen Advisors LLC bought a new stake in shares of American Bitcoin in the fourth quarter worth $34,000. EverSource Wealth Advisors LLC bought a new stake in shares of American Bitcoin in the first quarter worth $37,000. Finally, Kitching Partners LLC acquired a new stake in American Bitcoin in the fourth quarter valued at $37,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.