American Bitcoin Corp. (NASDAQ:ABTC) Receives Average Rating of “Hold” from Brokerages

American Bitcoin Corp. (NASDAQ:ABTC) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $45.00.

ABTC has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research note on Wednesday, June 24th. Maxim Group set a $15.00 price objective on American Bitcoin and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen cut American Bitcoin from a “hold” rating to a “sell” rating in a report on Saturday, August 8th.

American Bitcoin Price Performance

Shares of American Bitcoin stock opened at $8.41 on Wednesday. The firm has a market capitalization of $612.42 million, a PE ratio of -2.76 and a beta of 3.92. The company’s fifty day moving average price is $6.83 and its two-hundred day moving average price is $12.26. American Bitcoin has a 52-week low of $4.92 and a 52-week high of $153.60.

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

Insider Buying and Selling

In related news, Director Justin Mateen purchased 162,438 shares of the stock in a transaction on Thursday, August 6th. The shares were purchased at an average cost of $6.19 per share, for a total transaction of $1,005,491.22. Following the completion of the transaction, the director directly owned 492,297 shares of the company’s stock, valued at approximately $3,047,318.43. The trade was a 49.24% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On American Bitcoin

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE bought a new stake in shares of American Bitcoin in the 3rd quarter worth about $61,000. NewEdge Advisors LLC bought a new position in American Bitcoin during the 3rd quarter valued at about $71,000. Dimensional Fund Advisors LP bought a new position in American Bitcoin during the 3rd quarter valued at about $95,000. Integrated Wealth Concepts LLC acquired a new position in American Bitcoin in the third quarter valued at about $95,000. Finally, CWM LLC boosted its position in American Bitcoin by 1,031.4% in the fourth quarter. CWM LLC now owns 17,062 shares of the company’s stock valued at $29,000 after buying an additional 15,554 shares in the last quarter. Institutional investors and hedge funds 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.