American Bitcoin (NASDAQ:ABTC) Upgraded at Maxim Group

American Bitcoin (NASDAQ:ABTC) was upgraded by equities researchers at Maxim Group to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

ABTC has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a report on Wednesday, June 24th. Zacks Research raised American Bitcoin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

American Bitcoin Price Performance

Shares of ABTC opened at $6.10 on Tuesday. American Bitcoin has a 1-year low of $5.04 and a 1-year high of $217.80. The company has a market capitalization of $432.49 million, a P/E ratio of -0.81 and a beta of 3.81. The firm’s 50 day simple moving average is $11.40 and its 200 day simple moving average is $15.97.

American Bitcoin (NASDAQ:ABTC) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($1.35). The company had revenue of $62.12 million during the quarter, compared to analysts’ expectations of $74.85 million. American Bitcoin had a negative return on equity of 29.72% and a negative net margin of 69.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of American Bitcoin by 1,031.4% in the 4th quarter. CWM LLC now owns 17,062 shares of the company’s stock worth $29,000 after acquiring an additional 15,554 shares during the last quarter. Aptus Capital Advisors LLC purchased a new stake in shares of American Bitcoin in the 4th quarter valued at $33,000. Forty three Eighteen Advisors LLC bought a new position in shares of American Bitcoin during the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC bought a new position in shares of American Bitcoin during the 1st quarter valued at $37,000. Finally, Kitching Partners LLC bought a new position in shares of American Bitcoin during the 4th quarter valued at $37,000. 10.21% of the stock is currently owned by institutional investors.

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.