American Bitcoin (NASDAQ:ABTC) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of American Bitcoin (NASDAQ:ABTC) in a research note released on Monday, Marketbeat reports. The firm issued a buy rating and a $4.00 target price on the stock.

ABTC has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a report on Monday, December 29th. Wall Street Zen upgraded shares of American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Finally, Roth Mkm assumed coverage on shares of American Bitcoin in a report on Wednesday, December 10th. They issued a “buy” rating and a $4.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.00.

American Bitcoin Trading Down 5.3%

American Bitcoin stock opened at $1.43 on Monday. American Bitcoin has a twelve month low of $0.63 and a twelve month high of $14.65. The stock has a 50 day moving average of $2.03 and a two-hundred day moving average of $4.70. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.18 and a beta of 3.58.

Insider Activity at American Bitcoin

In related news, Director Richard Busch acquired 101,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average price of $1.98 per share, with a total value of $199,980.00. Following the completion of the acquisition, the director owned 1,000,975 shares in the company, valued at approximately $1,981,930.50. This represents a 11.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On American Bitcoin

A number of hedge funds and other institutional investors have recently modified their holdings of ABTC. HUB Investment Partners LLC purchased a new stake in shares of American Bitcoin during the 2nd quarter worth approximately $114,000. Moore Capital Management LP acquired a new position in American Bitcoin during the second quarter worth $88,000. Tidal Investments LLC acquired a new position in American Bitcoin during the second quarter worth $87,000. Vident Advisory LLC acquired a new stake in American Bitcoin in the second quarter valued at $965,000. Finally, Quent Capital LLC acquired a new position in shares of American Bitcoin during the 3rd quarter worth $52,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.