Insider Buying: American Bitcoin (NASDAQ:ABTC) Director Acquires 68,000 Shares of Stock

American Bitcoin Corp. (NASDAQ:ABTC) Director Richard Busch bought 68,000 shares of American Bitcoin stock in a transaction dated Thursday, March 5th. The stock was acquired at an average cost of $1.15 per share, with a total value of $78,200.00. Following the completion of the acquisition, the director directly owned 1,398,975 shares of the company’s stock, valued at approximately $1,608,821.25. The trade was a 5.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Richard Busch also recently made the following trade(s):

• On Wednesday, March 4th, Richard Busch purchased 90,000 shares of American Bitcoin stock. The shares were bought at an average cost of $1.15 per share, for a total transaction of $103,500.00.
• On Tuesday, March 3rd, Richard Busch purchased 240,000 shares of American Bitcoin stock. The stock was bought at an average price of $0.96 per share, for a total transaction of $230,400.00.
• On Monday, December 22nd, Richard Busch acquired 101,000 shares of American Bitcoin stock. The shares were purchased at an average price of $1.98 per share, with a total value of $199,980.00.
• On Tuesday, December 16th, Richard Busch purchased 175,000 shares of American Bitcoin stock. The stock was acquired at an average cost of $1.66 per share, with a total value of $290,500.00.

American Bitcoin Price Performance

Shares of ABTC stock opened at $1.09 on Monday. The business’s fifty day moving average price is $1.42 and its 200 day moving average price is $3.86. The firm has a market capitalization of $1.01 billion, a PE ratio of -2.42 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ABTC. HUB Investment Partners LLC purchased a new position in American Bitcoin during the second quarter worth $114,000. Moore Capital Management LP purchased a new stake in shares of American Bitcoin in the second quarter valued at $88,000. Tidal Investments LLC acquired a new stake in shares of American Bitcoin during the second quarter valued at $87,000. Vident Advisory LLC purchased a new stake in American Bitcoin during the 2nd quarter worth about $965,000. Finally, Quent Capital LLC purchased a new stake in American Bitcoin during the 3rd quarter worth about $52,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.