American Bitcoin Corp. (NASDAQ:ABTC) Given Consensus Rating of "Hold" by Analysts

Key Points

• American Bitcoin Corp. has a consensus analyst rating of "Hold" based on five covering firms, with three buy ratings, one hold, and one sell. The average 12-month price target is $45.00.
• The stock has been volatile, recently trading up 11.7% to $6.45, with a market cap of about $456.95 million and a beta of 3.81. Its shares have traded far below the $217.80 52-week high.
• Recent results were weak: the company reported an EPS loss of $1.20 versus expectations for a profit and posted $62.12 million in revenue, below estimates. It also showed negative profitability metrics, including a negative net margin of 69.42%.

American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) has been assigned a consensus recommendation of "Hold" from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $45.00.

A number of equities research analysts recently issued reports on the company. Zacks Research raised American Bitcoin from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Maxim Group set a $15.00 target price on American Bitcoin and gave the stock a "buy" rating in a research report on Tuesday. Finally, Weiss Ratings restated a "sell (d)" rating on shares of American Bitcoin in a report on Wednesday, June 24th.

Hedge Funds Weigh In On American Bitcoin

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its stake in shares of 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 in the last quarter. Aptus Capital Advisors LLC bought a new stake in American Bitcoin during the 4th quarter valued at $33,000. Forty three Eighteen Advisors LLC bought a new position in shares of American Bitcoin during the 4th quarter worth $34,000. EverSource Wealth Advisors LLC purchased a new position in shares of American Bitcoin during the first quarter valued at $37,000. Finally, Kitching Partners LLC purchased a new stake in American Bitcoin in the fourth quarter worth about $37,000. 10.21% of the stock is currently owned by institutional investors.

American Bitcoin Trading Up 11.7%

Shares of NASDAQ:ABTC traded up $0.68 during trading on Tuesday, reaching $6.45. The company's stock had a trading volume of 1,368,385 shares, compared to its average volume of 1,053,807. The stock has a market capitalization of $456.95 million, a PE ratio of -0.86 and a beta of 3.81. American Bitcoin has a 12 month low of $5.04 and a 12 month high of $217.80. The firm's 50 day simple moving average is $11.83 and its two-hundred day simple moving average is $16.24.

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

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.

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