Analysts Set American Bitcoin Corp. (NASDAQ:ABTC) PT at $45.00

by · The Markets Daily

American Bitcoin Corp. (NASDAQ:ABTC – Get Free Report) has earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $45.00.

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

View Our Latest Stock Report on ABTC

American Bitcoin Stock Performance

ABTC opened at $8.32 on Wednesday. The company has a fifty day simple moving average of $6.95 and a 200 day simple moving average of $12.12. The firm has a market cap of $605.86 million, a price-to-earnings ratio of -2.73 and a beta of 3.92. American Bitcoin has a twelve month low of $4.92 and a twelve month high of $123.75.

American Bitcoin (NASDAQ:ABTC – Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported ($0.80) earnings per share for the quarter. American Bitcoin had a negative net margin of 71.75% and a negative return on equity of 29.89%. The business had revenue of $67.01 million for the quarter.

Insider Activity at American Bitcoin

In other news, Director Justin Mateen purchased 162,438 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average cost of $6.19 per share, for a total transaction of $1,005,491.22. Following the completion of the purchase, the director owned 492,297 shares of the company’s stock, valued at approximately $3,047,318.43. This trade represents a 49.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.57% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Solari Capital Management LLC bought a new position in American Bitcoin during the 3rd quarter valued at $317,612,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of American Bitcoin in the fourth quarter valued at $5,285,000. Providence Capital Advisors LLC acquired a new stake in shares of American Bitcoin in the fourth quarter valued at $4,244,000. State Street Corp boosted its stake in American Bitcoin by 3,933.2% during the fourth quarter. State Street Corp now owns 2,392,690 shares of the company’s stock valued at $4,068,000 after buying an additional 2,333,365 shares in the last quarter. Finally, 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 valued at $1,629,000 after buying an additional 1,403,547 shares in the last quarter. Institutional investors own 10.21% of the company’s stock.

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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