Stock Traders Buy High Volume of Put Options on American Bitcoin (NASDAQ:ABTC)

American Bitcoin Corp. (NASDAQ:ABTC) was the target of unusually large options trading on Monday. Stock investors purchased 9,509 put options on the stock. This is an increase of approximately 35% compared to the average daily volume of 7,037 put options.

Institutional Investors Weigh In On American Bitcoin

Several hedge funds and other institutional investors have recently made changes to their positions in ABTC. NewEdge Advisors LLC purchased a new position in shares of American Bitcoin during the 3rd quarter valued at about $71,000. Solari Capital Management LLC bought a new position in American Bitcoin in the 3rd quarter worth $317,612,000. Qube Research & Technologies Ltd purchased a new stake in American Bitcoin in the 3rd quarter worth $200,000. Prelude Capital Management LLC bought a new stake in American Bitcoin during the third quarter valued at about $811,000. Finally, Millennium Management LLC bought a new position in shares of American Bitcoin in the third quarter worth about $2,787,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

Wall Street Analyst Weigh In

ABTC has been the subject of several analyst reports. Weiss Ratings assumed coverage on shares of American Bitcoin in a research report on Wednesday. They set a “sell (d)” rating for the company. Wall Street Zen upgraded American Bitcoin from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

American Bitcoin Stock Down 7.3%

Shares of American Bitcoin stock traded down $0.31 on Monday, reaching $3.93. The company’s stock had a trading volume of 2,562,772 shares, compared to its average volume of 2,540,744. American Bitcoin has a 52 week low of $0.63 and a 52 week high of $14.65. The firm’s fifty day simple moving average is $5.50 and its two-hundred day simple moving average is $5.90. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -8.73 and a beta of 3.84.

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.