American Bitcoin (NASDAQ:ABTC) Director Purchases $103,500.00 in Stock

American Bitcoin Corp. (NASDAQ:ABTC) Director Richard Busch acquired 90,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average price of $1.15 per share, with a total value of $103,500.00. Following the completion of the transaction, the director owned 1,330,975 shares of the company’s stock, valued at $1,530,621.25. This trade represents a 7.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

American Bitcoin Trading Up 11.7%

ABTC stock opened at $1.15 on Thursday. The firm has a market cap of $1.07 billion, a PE ratio of -2.56 and a beta of 3.81. The stock has a 50-day moving average price of $1.45 and a 200-day moving average price of $3.93. American Bitcoin Corp. has a 1-year low of $0.63 and a 1-year high of $14.65.

Institutional Investors Weigh In On American Bitcoin

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Solari Capital Management LLC acquired a new stake in shares of American Bitcoin in the 3rd quarter worth about $317,612,000. Charles Schwab Investment Management Inc. acquired a new position in American Bitcoin during the 4th quarter valued at about $5,285,000. Providence Capital Advisors LLC bought a new stake in American Bitcoin during the 4th quarter worth approximately $4,244,000. State Street Corp raised its stake in shares of 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 last quarter. Finally, Geode Capital Management LLC purchased a new stake in shares of American Bitcoin in the fourth quarter worth approximately $2,773,000. 10.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ABTC. Roth Mkm began coverage on American Bitcoin in a report on Wednesday, December 10th. They set a “buy” rating and a $4.00 price target on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of American Bitcoin in a report on Monday, December 29th. HC Wainwright initiated coverage on American Bitcoin in a research note on Monday, February 2nd. They issued a “buy” rating and a $4.00 target price for the company. Finally, Wall Street Zen raised American Bitcoin from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, American Bitcoin currently has an average rating of “Hold” and a consensus price target 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.