American Bitcoin (NASDAQ:ABTC) Director Purchases $199,980.00 in Stock

American Bitcoin Corp. (NASDAQ:ABTC) Director Richard Busch purchased 101,000 shares of the stock in a transaction dated Monday, December 22nd. The stock was purchased at an average cost of $1.98 per share, for a total transaction of $199,980.00. Following the completion of the acquisition, the director owned 1,000,975 shares of the company’s stock, valued at approximately $1,981,930.50. This represents a 11.22% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, December 16th, Richard Busch acquired 175,000 shares of American Bitcoin stock. The shares were purchased at an average cost of $1.66 per share, with a total value of $290,500.00.

American Bitcoin Stock Performance

American Bitcoin stock traded down $0.09 during midday trading on Tuesday, reaching $1.86. 10,782,561 shares of the stock were exchanged, compared to its average volume of 3,928,897. American Bitcoin Corp. has a 52 week low of $0.63 and a 52 week high of $14.65. The firm has a market cap of $1.73 billion, a PE ratio of -4.13 and a beta of 3.46. The company’s fifty day moving average is $3.99 and its 200-day moving average is $5.48.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Roth Capital started coverage on American Bitcoin in a research note on Wednesday, December 10th. They set a “buy” rating and a $4.00 price objective for the company. Wall Street Zen raised American Bitcoin from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a report on Monday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, American Bitcoin currently has an average rating of “Hold” and an average target price of $4.00.

Institutional Investors Weigh In On American Bitcoin

Hedge funds have recently added to or reduced their stakes in the company. Solari Capital Management LLC bought a new position in shares of American Bitcoin during the 3rd quarter valued at about $317,612,000. Murchinson Ltd. boosted its stake in American Bitcoin by 271.4% in the first quarter. Murchinson Ltd. now owns 2,403,988 shares of the company’s stock worth $409,000 after buying an additional 1,756,649 shares in the last quarter. Vident Advisory LLC purchased a new stake in American Bitcoin in the second quarter worth approximately $965,000. United Capital Management of KS Inc. bought a new position in American Bitcoin during the third quarter valued at approximately $4,886,000. Finally, Millennium Management LLC purchased a new position in shares of American Bitcoin during the third quarter worth approximately $2,787,000. Institutional investors own 10.21% of the company’s stock.

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.