American Bitcoin (NASDAQ:ABTC) Director Justin Mateen Buys 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 bought at an average price of $6.19 per share, for a total transaction of $1,005,491.22. Following the acquisition, the director owned 492,297 shares in the company, valued at $3,047,318.43. The trade was a 49.24% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 purchased at an average cost of $6.40 per share, with a total value of $925,075.20.

American Bitcoin Stock Up 4.5%

Shares of NASDAQ:ABTC traded up $0.28 during trading on Friday, reaching $6.47. The stock had a trading volume of 1,148,724 shares, compared to its average volume of 1,080,810. The stock has a market cap of $458.72 million, a P/E ratio of -2.12 and a beta of 3.86. The business has a fifty day moving average price of $9.09 and a 200-day moving average price of $14.29. American Bitcoin Corp. has a fifty-two week low of $4.92 and a fifty-two week high of $217.80.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Maxim Group set a $15.00 price target on shares of American Bitcoin and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research report on Wednesday, June 24th. Finally, Zacks Research upgraded American Bitcoin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, American Bitcoin currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Institutional Trading of American Bitcoin

Several institutional investors have recently added to or reduced their stakes in the stock. Solari Capital Management LLC bought a new position in American Bitcoin in the 3rd quarter worth about $317,612,000. Charles Schwab Investment Management Inc. acquired a new position in shares of American Bitcoin during the fourth quarter valued at $5,285,000. Providence Capital Advisors LLC bought a new stake in shares of American Bitcoin during the fourth quarter valued at about $4,244,000. State Street Corp lifted its holdings in American Bitcoin by 3,933.2% in the fourth quarter. State Street Corp now owns 2,392,690 shares of the company’s stock worth $4,068,000 after purchasing an additional 2,333,365 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in American Bitcoin in the first quarter worth about $1,589,000. 10.21% of the stock is owned by institutional investors and hedge funds.

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.