American Bitcoin (NASDAQ:ABTC) Announces Earnings Results

Key Points

• American Bitcoin reported a quarterly loss of $0.80 per share, alongside a negative return on equity of 29.72% and a negative net margin of 69.42%.
• The stock opened at $5.52 and has declined sharply from its 12-month high of $217.80; its market capitalization is approximately $391.4 million.
• Analyst sentiment is mixed, with an overall “Hold” rating and a consensus price target of $45.00. Institutional investors and hedge funds own 10.21% of the company.

American Bitcoin (NASDAQ:ABTC - Get Free Report) announced its earnings results on Monday. The company reported ($0.80) EPS for the quarter, Zacks reports. American Bitcoin had a negative return on equity of 29.72% and a negative net margin of 69.42%.

American Bitcoin Stock Performance

Shares of American Bitcoin stock opened at $5.52 on Monday. The stock's fifty day simple moving average is $9.89 and its 200 day simple moving average is $14.85. The company has a market capitalization of $391.38 million, a PE ratio of -0.74 and a beta of 3.81. American Bitcoin has a 12 month low of $5.04 and a 12 month high of $217.80.

Wall Street Analysts Forecast Growth

ABTC has been the subject of a number of research analyst reports. Maxim Group set a $15.00 target price on shares of American Bitcoin and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Zacks Research upgraded American Bitcoin from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of American Bitcoin in a research report on Wednesday, June 24th. 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $45.00.

Hedge Funds Weigh In On American Bitcoin

Several institutional investors and hedge funds have recently modified their holdings of the business. Aptus Capital Advisors LLC acquired a new position in shares of American Bitcoin in the fourth quarter valued at approximately $33,000. Kitching Partners LLC acquired a new position in shares of American Bitcoin during the fourth quarter worth about $37,000. StoneX Group Inc. acquired a new stake in American Bitcoin in the 4th quarter valued at approximately $38,000. Northwestern Mutual Wealth Management Co. lifted its stake in American Bitcoin by 2,718,000.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 27,181 shares of the company's stock valued at $46,000 after acquiring an additional 27,180 shares in the last quarter. Finally, Strive Financial Group LLC bought a new stake in American Bitcoin in the 4th quarter valued at approximately $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.

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