Brokerages Set American Bitcoin Corp. (NASDAQ:ABTC) Price Target at $45.00

Shares of American Bitcoin Corp. (NASDAQ:ABTCGet Free Report) have been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $45.00.

A number of research firms have recently commented on ABTC. Maxim Group set a $15.00 price objective on American Bitcoin and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Wall Street Zen cut American Bitcoin from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a report on Wednesday, June 24th.

View Our Latest Research Report on American Bitcoin

Insiders Place Their Bets

In other American Bitcoin news, Director Justin Mateen acquired 162,438 shares of American Bitcoin stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $6.19 per share, for a total transaction of $1,005,491.22. Following the transaction, the director owned 492,297 shares in the company, valued at approximately $3,047,318.43. This trade represents a 49.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.57% of the company’s stock.

Institutional Trading of American Bitcoin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of American Bitcoin by 1,031.4% during the 4th quarter. CWM LLC now owns 17,062 shares of the company’s stock valued at $29,000 after acquiring an additional 15,554 shares during the last quarter. Forty three Eighteen Advisors LLC acquired a new position in shares of American Bitcoin in the 4th quarter worth $34,000. J. Derek Lewis & Associates Inc. acquired a new position in shares of American Bitcoin in the 4th quarter worth $39,000. Marathon Trading Investment Management LLC acquired a new stake in shares of American Bitcoin during the fourth quarter worth $67,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of American Bitcoin during the first quarter worth $37,000. 10.21% of the stock is owned by institutional investors and hedge funds.

American Bitcoin Trading Down 7.6%

ABTC stock opened at $7.99 on Wednesday. The firm’s 50-day moving average is $6.99 and its two-hundred day moving average is $12.02. The company has a market capitalization of $581.83 million, a price-to-earnings ratio of -2.62 and a beta of 3.92. American Bitcoin has a 52 week low of $4.92 and a 52 week high of $120.75.

American Bitcoin (NASDAQ:ABTCGet Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($0.80) earnings per share (EPS) for the quarter. The company 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%.

About American Bitcoin

(Get Free Report)

Gryphon Digital Mining is an innovative venture in the bitcoin space. Gryphon Digital Mining, formerly known as Akerna Corp., is based in DENVER.

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Analyst Recommendations for American Bitcoin (NASDAQ:ABTC)

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