Richard Busch Acquires 175,000 Shares of American Bitcoin (NASDAQ:ABTC) Stock

American Bitcoin Corp. (NASDAQ:ABTC) Director Richard Busch purchased 175,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average cost of $1.66 per share, with a total value of $290,500.00. Following the completion of the acquisition, the director directly owned 899,975 shares in the company, valued at $1,493,958.50. The trade was a 24.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

American Bitcoin Price Performance

NASDAQ:ABTC opened at $1.65 on Thursday. The firm has a market cap of $1.53 billion, a PE ratio of -3.67 and a beta of 3.46. American Bitcoin Corp. has a 12 month low of $0.63 and a 12 month high of $14.65. The company’s 50-day moving average price is $4.25 and its two-hundred day moving average price is $5.57.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quent Capital LLC bought a new stake in shares of American Bitcoin during the third quarter worth $52,000. Bank of America Corp DE bought a new position in American Bitcoin in the third quarter valued at about $61,000. NewEdge Advisors LLC acquired a new stake in American Bitcoin in the third quarter worth about $71,000. Dimensional Fund Advisors LP bought a new stake in American Bitcoin during the 3rd quarter worth about $95,000. Finally, Integrated Wealth Concepts LLC bought a new stake in American Bitcoin during the 3rd quarter worth about $95,000. 10.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Roth Capital started coverage on American Bitcoin in a report on Wednesday, December 10th. They issued a “buy” rating and a $4.00 target price on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research note on Monday. Finally, Wall Street Zen upgraded American Bitcoin from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. One research analyst has 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.com, the company has an average rating of “Hold” and a consensus target price of $4.00.

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.