American Bitcoin (NASDAQ:ABTC) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of American Bitcoin (NASDAQ:ABTC) from a hold rating to a sell rating in a research report report published on Saturday.

American Bitcoin Stock Up 3.9%

Shares of ABTC stock opened at $5.05 on Friday. The firm has a 50 day moving average of $6.13 and a two-hundred day moving average of $5.81. The stock has a market capitalization of $83.63 million, a PE ratio of -11.22 and a beta of 3.84. American Bitcoin has a 52 week low of $0.63 and a 52 week high of $14.65.

Institutional Investors Weigh In On American Bitcoin

Several large investors have recently bought and sold shares of ABTC. Solari Capital Management LLC purchased a new position in shares of American Bitcoin in the 3rd quarter valued at about $317,612,000. Murchinson Ltd. raised its holdings in American Bitcoin by 271.4% in the first quarter. Murchinson Ltd. now owns 2,403,988 shares of the company’s stock valued at $409,000 after acquiring an additional 1,756,649 shares in the last quarter. Vident Advisory LLC purchased a new position in American Bitcoin in the second quarter worth approximately $965,000. United Capital Management of KS Inc. acquired a new position in American Bitcoin during the 3rd quarter worth approximately $4,886,000. Finally, Millennium Management LLC purchased a new stake in shares of American Bitcoin in the 3rd quarter valued at approximately $2,787,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

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.