American Bitcoin Corp. (ABTC) – What Are Analysts Saying About This Stock?

American Bitcoin Corp. (NASDAQ:ABTC) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $28.25.

A number of analysts have commented on the company. Maxim Group set a $16.00 price target on American Bitcoin and gave the stock a “buy” rating in a research report on Monday, October 12th. BTIG Research began coverage on American Bitcoin in a report on Wednesday, September 16th. They issued a “buy” rating and a $15.00 price objective on the stock. Weiss Ratings restated a “sell (d)” rating on shares of American Bitcoin in a research note on Monday, September 21st. HC Wainwright assumed coverage on American Bitcoin in a research note on Monday, October 12th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Wall Street Zen downgraded American Bitcoin from a “hold” rating to a “sell” rating in a report on Saturday, August 8th.

Insiders Place Their Bets

In other news, Director Justin Mateen bought 162,438 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was purchased at an average cost of $6.19 per share, with a total value of $1,005,491.22. Following the acquisition, the director directly owned 492,297 shares in the company, valued at $3,047,318.43. This trade represents a 49.24% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.57% of the company’s stock.

Hedge Funds Weigh In On American Bitcoin

A number of large investors have recently added to or reduced their stakes in ABTC. Renaissance Technologies LLC acquired a new stake in shares of American Bitcoin in the first quarter valued at approximately $1,589,000. Kingsbury Capital Investment Advisors LLC boosted its stake in American Bitcoin by 142.1% during the second quarter. Kingsbury Capital Investment Advisors LLC now owns 2,391,091 shares of the company’s stock worth $1,629,000 after buying an additional 1,403,547 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in American Bitcoin by 54,246.1% during the first quarter. PNC Financial Services Group Inc. now owns 874,972 shares of the company’s stock worth $808,000 after buying an additional 873,362 shares during the last quarter. PCG Wealth Advisors LLC boosted its stake in American Bitcoin by 78.2% during the second quarter. PCG Wealth Advisors LLC now owns 1,222,358 shares of the company’s stock worth $833,000 after buying an additional 536,325 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in American Bitcoin in the 2nd quarter valued at $273,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

American Bitcoin Stock Performance

Shares of ABTC opened at $6.15 on Thursday. The company has a 50 day moving average of $8.31 and a two-hundred day moving average of $12.58. American Bitcoin has a twelve month low of $4.92 and a twelve month high of $80.35.

American Bitcoin (NASDAQ:ABTC) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.80) EPS for the quarter. The business had revenue of $67.01 million during the quarter. American Bitcoin had a negative net margin of 71.75% and a negative return on equity of 29.89%. Equities analysts expect that American Bitcoin will post 1.24 EPS for the current fiscal year.

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.