American Bitcoin (NASDAQ:ABTC) Shares Gap Up – Here’s What Happened

American Bitcoin Corp. (NASDAQ:ABTC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $1.78, but opened at $1.95. American Bitcoin shares last traded at $2.0325, with a volume of 7,618,376 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of American Bitcoin from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research report on Monday, December 29th. Finally, Roth Capital initiated coverage on American Bitcoin in a research report on Wednesday, December 10th. They issued a “buy” rating and a $4.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.00.

American Bitcoin Trading Up 16.0%

The business’s 50 day moving average price is $3.39 and its two-hundred day moving average price is $5.27. The stock has a market cap of $1.91 billion, a P/E ratio of -4.59 and a beta of 3.58.

Insiders Place Their Bets

In other news, Director Richard Busch acquired 101,000 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were acquired at an average cost of $1.98 per share, with a total value of $199,980.00. Following the transaction, the director owned 1,000,975 shares in the company, valued at $1,981,930.50. The trade was a 11.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 15.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. EWA LLC purchased a new stake in American Bitcoin in the second quarter worth $29,000. Quent Capital LLC bought a new stake in shares of American Bitcoin during the 3rd quarter valued at $52,000. Bank of America Corp DE bought a new position in shares of American Bitcoin in the 3rd quarter worth about $61,000. NewEdge Advisors LLC bought a new stake in American Bitcoin during the third quarter worth about $71,000. Finally, Tidal Investments LLC purchased a new stake in American Bitcoin in the second quarter worth about $87,000. Hedge funds and other 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.