American Bitcoin (NASDAQ:ABTC) Upgraded by Wall Street Zen to Hold Rating

American Bitcoin (NASDAQ:ABTC) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

American Bitcoin Stock Performance

Shares of ABTC opened at $4.43 on Friday. The company has a market cap of $73.36 million, a price-to-earnings ratio of -9.84 and a beta of 3.84. The stock has a fifty day moving average price of $5.82 and a two-hundred day moving average price of $5.87. American Bitcoin has a 52-week low of $0.63 and a 52-week high of $14.65.

Institutional Investors Weigh In On American Bitcoin

A number of hedge funds have recently added to or reduced their stakes in ABTC. EWA LLC acquired a new stake in American Bitcoin in the 2nd quarter valued at about $29,000. Quent Capital LLC bought a new stake in shares of American Bitcoin during the third quarter valued at approximately $52,000. Bank of America Corp DE acquired a new stake in shares of American Bitcoin in the third quarter valued at approximately $61,000. NewEdge Advisors LLC acquired a new stake in shares of American Bitcoin in the third quarter valued at approximately $71,000. Finally, Tidal Investments LLC bought a new position in American Bitcoin in the 2nd quarter worth approximately $87,000. Institutional investors own 10.21% of the company’s stock.

American Bitcoin Company Profile

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