American Bitcoin (NASDAQ:ABTC) Stock Price Down 1.3% – Here’s What Happened

American Bitcoin Corp. (NASDAQ:ABTC)’s stock price was down 1.3% on Monday . The stock traded as low as $1.48 and last traded at $1.51. Approximately 9,184,973 shares changed hands during trading, a decline of 18% from the average daily volume of 11,141,852 shares. The stock had previously closed at $1.53.

Analyst Ratings Changes

Several analysts have recently commented on ABTC shares. Wall Street Zen upgraded shares of American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of American Bitcoin in a research note on Monday, December 29th. Finally, Roth Mkm assumed coverage on American Bitcoin in a report on Wednesday, December 10th. They set a “buy” rating and a $4.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, American Bitcoin currently has a consensus rating of “Hold” and an average target price of $4.00.

American Bitcoin Stock Down 1.3%

The company has a market capitalization of $1.40 billion, a P/E ratio of -3.36 and a beta of 3.58. The business has a 50 day moving average of $2.34 and a 200 day moving average of $4.89.

Insider Buying and Selling at American Bitcoin

In other American Bitcoin news, Director Richard Busch bought 175,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of $1.66 per share, with a total value of $290,500.00. Following the completion of the acquisition, the director owned 899,975 shares in the company, valued at $1,493,958.50. This trade represents a 24.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.00% of the company’s stock.

Institutional Trading of American Bitcoin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EWA LLC bought a new stake in shares of American Bitcoin in the 2nd quarter worth about $29,000. CWM LLC grew its holdings in 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 purchasing an additional 15,554 shares during the last quarter. Procyon Advisors LLC purchased a new stake in American Bitcoin in the 4th quarter worth about $43,000. CWA Asset Management Group LLC bought a new stake in American Bitcoin in the fourth quarter worth about $46,000. Finally, Quent Capital LLC purchased a new position in shares of American Bitcoin during the third quarter valued at approximately $52,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

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.