American Bitcoin (NASDAQ:ABTC) Stock Price Up 13.1% – What’s Next?

Shares of American Bitcoin Corp. (NASDAQ:ABTC) were up 13.1% on Friday . The company traded as high as $1.31 and last traded at $1.2950. Approximately 1,738,634 shares traded hands during trading, a decline of 86% from the average daily volume of 12,140,684 shares. The stock had previously closed at $1.1450.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABTC. HC Wainwright assumed coverage on shares of American Bitcoin in a report on Monday, February 2nd. They issued a “buy” rating and a $4.00 price target on the stock. Roth Mkm began coverage on shares of American Bitcoin in a research note on Wednesday, December 10th. They issued a “buy” rating and a $4.00 target price on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.00.

American Bitcoin Stock Performance

The stock has a market cap of $1.22 billion, a PE ratio of -2.91 and a beta of 3.77. The company’s 50-day moving average price is $1.79 and its two-hundred day moving average price is $4.57.

Insider Transactions at American Bitcoin

In other news, Director Richard Busch purchased 101,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was purchased at an average price of $1.98 per share, with a total value of $199,980.00. Following the completion of the purchase, the director directly owned 1,000,975 shares in the company, valued at approximately $1,981,930.50. This trade represents a 11.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 15.00% of the stock is currently owned by company insiders.

Institutional Trading of American Bitcoin

A number of hedge funds have recently bought and sold shares of ABTC. CWM LLC grew its position in American Bitcoin by 1,031.4% during the fourth quarter. CWM LLC now owns 17,062 shares of the company’s stock valued at $29,000 after acquiring an additional 15,554 shares during the last quarter. Procyon Advisors LLC bought a new stake in shares of American Bitcoin in the 4th quarter worth approximately $43,000. CWA Asset Management Group LLC purchased a new stake in shares of American Bitcoin in the 4th quarter valued at $46,000. Quent Capital LLC bought a new position in shares of American Bitcoin during the 3rd quarter valued at $52,000. Finally, Bank of America Corp DE purchased a new position in American Bitcoin in the 3rd quarter worth $61,000. 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.