American Bitcoin (NASDAQ:ABTC) Research Coverage Started at Maxim Group

Maxim Group began coverage on shares of American Bitcoin (NASDAQ:ABTC) in a research report report published on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $15.00 price target on the stock.

Several other equities analysts have also recently commented on ABTC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research report on Wednesday, June 24th. Zacks Research upgraded American Bitcoin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.00.

American Bitcoin Stock Performance

Shares of NASDAQ ABTC opened at $6.10 on Tuesday. American Bitcoin has a 1 year low of $5.04 and a 1 year high of $217.80. The firm has a market cap of $432.49 million, a price-to-earnings ratio of -0.81 and a beta of 3.81. The stock’s 50-day simple moving average is $11.17 and its 200-day simple moving average is $15.83.

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

Hedge Funds Weigh In On American Bitcoin

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in shares of American Bitcoin during the third quarter valued at approximately $61,000. NewEdge Advisors LLC bought a new stake in shares of American Bitcoin in the 3rd quarter worth approximately $71,000. Dimensional Fund Advisors LP bought a new stake in shares of American Bitcoin in the 3rd quarter worth approximately $95,000. Integrated Wealth Concepts LLC acquired a new position in American Bitcoin during the 3rd quarter valued at approximately $95,000. Finally, CWM LLC boosted its position 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 period. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.