Investors Buy Large Volume of Call Options on American Bitcoin (NASDAQ:ABTC)

American Bitcoin Corp. (NASDAQ:ABTC) saw unusually large options trading on Wednesday. Investors acquired 46,216 call options on the company. This is an increase of approximately 821% compared to the average daily volume of 5,017 call options.

Hedge Funds Weigh In On American Bitcoin

A number of institutional investors have recently made changes to their positions in ABTC. Cambridge Investment Research Advisors Inc. bought a new position in American Bitcoin during the first quarter valued at about $66,000. Murchinson Ltd. grew its stake in shares of American Bitcoin by 271.4% in the 1st quarter. Murchinson Ltd. now owns 2,403,988 shares of the company’s stock valued at $409,000 after purchasing an additional 1,756,649 shares during the period. Vident Advisory LLC bought a new stake in shares of American Bitcoin in the 2nd quarter valued at approximately $965,000. HUB Investment Partners LLC bought a new stake in shares of American Bitcoin in the 2nd quarter valued at approximately $114,000. Finally, Moore Capital Management LP bought a new stake in shares of American Bitcoin in the 2nd quarter valued at approximately $88,000. 10.21% of the stock is currently owned by institutional investors.

American Bitcoin Price Performance

Shares of NASDAQ:ABTC opened at $7.20 on Thursday. American Bitcoin has a fifty-two week low of $0.63 and a fifty-two week high of $14.65. The business has a 50-day moving average of $6.75 and a two-hundred day moving average of $4.70. The stock has a market capitalization of $119.23 million, a P/E ratio of -6.00 and a beta of 3.92.

American Bitcoin (NASDAQ:ABTC) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.35) earnings per share for the quarter. The business had revenue of $1.38 million during the quarter. As a group, research analysts expect that American Bitcoin will post -0.76 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.