American Bitcoin Corp. (NASDAQ:ABTC) Receives $45.00 Consensus Target Price from Analysts

Shares of American Bitcoin Corp. (NASDAQ:ABTC) have received a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $45.00.

A number of brokerages have recently commented on ABTC. Maxim Group set a $15.00 price objective on shares of American Bitcoin and gave the stock a “buy” rating in a research report on Tuesday. Zacks Research raised shares of American Bitcoin from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of American Bitcoin in a research note on Wednesday, June 24th.

Institutional Trading of American Bitcoin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE acquired a new position in American Bitcoin during the third quarter valued at approximately $61,000. NewEdge Advisors LLC acquired a new stake in shares of American Bitcoin in the 3rd quarter valued at approximately $71,000. Dimensional Fund Advisors LP bought a new position in shares of American Bitcoin in the third quarter valued at $95,000. Integrated Wealth Concepts LLC bought a new position in shares of American Bitcoin in the third quarter valued at $95,000. Finally, CWM LLC increased its holdings in American Bitcoin by 1,031.4% during the fourth quarter. CWM LLC now owns 17,062 shares of the company’s stock worth $29,000 after buying an additional 15,554 shares during the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

American Bitcoin Stock Performance

Shares of American Bitcoin stock opened at $6.10 on Tuesday. The business’s 50 day simple moving average is $11.17 and its 200 day simple moving average is $15.83. American Bitcoin has a 52-week low of $5.04 and a 52-week high of $217.80. The firm has a market cap of $432.49 million, a PE ratio of -0.81 and a beta of 3.81.

American Bitcoin (NASDAQ:ABTC) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($1.35). The firm had revenue of $62.12 million for the quarter, compared to analyst estimates of $74.85 million. American Bitcoin had a negative return on equity of 29.72% and a negative net margin of 69.42%.

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.