American Bitcoin Corp. (ABTC) – What Are Investment Firms Thinking About This Stock?

American Bitcoin Corp. (NASDAQ:ABTC) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $37.50.

ABTC has been the topic of several research reports. BTIG Research began coverage on shares of American Bitcoin in a report on Wednesday, September 16th. They set a “buy” rating and a $15.00 price objective on the stock. Maxim Group set a $15.00 price objective on shares of American Bitcoin and gave the stock a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research note on Monday, September 21st. Finally, Wall Street Zen lowered shares of American Bitcoin from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th.

American Bitcoin Stock Down 0.3%

ABTC stock opened at $7.73 on Friday. The firm has a market cap of $562.90 million, a price-to-earnings ratio of -2.54 and a beta of 3.96. The company’s fifty day simple moving average is $8.12 and its 200 day simple moving average is $11.15. American Bitcoin has a 12-month low of $4.92 and a 12-month high of $98.85.

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

Insider Activity at American Bitcoin

In other American Bitcoin news, Director Justin Mateen bought 162,438 shares of the stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Bitcoin

A number of hedge funds have recently added to or reduced their stakes in ABTC. Integrated Wealth Concepts LLC increased its holdings in American Bitcoin by 44.8% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 49,517 shares of the company’s stock worth $34,000 after purchasing an additional 15,321 shares in the last quarter. Forty three Eighteen Advisors LLC purchased a new stake in shares of American Bitcoin in the fourth quarter worth approximately $34,000. J. Derek Lewis & Associates Inc. purchased a new stake in shares of American Bitcoin in the fourth quarter worth approximately $39,000. Marathon Trading Investment Management LLC bought a new position in shares of American Bitcoin in the fourth quarter valued at approximately $67,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of American Bitcoin in the first quarter valued at approximately $37,000. Institutional investors and hedge funds 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.