American Bitcoin (NASDAQ:ABTC) Director Justin Mateen Acquires 162,438 Shares

Key Points

• Director Justin Mateen purchased 162,438 American Bitcoin shares at an average price of $6.19, investing about $1.01 million and increasing his direct stake by 49.24% to 492,297 shares.
• American Bitcoin shares rose 4.5% to $6.47, but the stock remains well below its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.80 per share on $67.01 million in revenue.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $45; institutional investors own approximately 10.21% of the company.

American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) Director Justin Mateen acquired 162,438 shares of the company's stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $6.19 per share, for a total transaction of $1,005,491.22. Following the completion of the purchase, the director directly owned 492,297 shares in the company, valued at $3,047,318.43. This trade represents a 49.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Justin Mateen also recently made the following trade(s):

• On Wednesday, August 5th, Justin Mateen bought 144,543 shares of American Bitcoin stock. The stock was purchased at an average price of $6.40 per share, with a total value of $925,075.20.

American Bitcoin Trading Up 4.5%

Shares of NASDAQ:ABTC traded up $0.28 during midday trading on Friday, hitting $6.47. The stock had a trading volume of 1,148,724 shares, compared to its average volume of 1,080,810. The company has a market capitalization of $458.72 million, a PE ratio of -2.12 and a beta of 3.86. The stock has a 50 day moving average price of $9.09 and a two-hundred day moving average price of $14.29. American Bitcoin Corp. has a 1 year low of $4.92 and a 1 year high of $217.80.

American Bitcoin (NASDAQ:ABTC - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.80) earnings per share (EPS) for the quarter. The firm had revenue of $67.01 million for the quarter. American Bitcoin had a negative return on equity of 29.89% and a negative net margin of 71.75%.

Analysts Set New Price Targets

Several analysts have recently commented on ABTC shares. Weiss Ratings reissued a "sell (d)" rating on shares of American Bitcoin in a report on Wednesday, June 24th. Zacks Research raised American Bitcoin from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Finally, Maxim Group set a $15.00 target price on shares of American Bitcoin and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $45.00.

Hedge Funds Weigh In On American Bitcoin

Several hedge funds have recently bought and sold shares of the company. CWM LLC grew its holdings in American Bitcoin by 1,031.4% in the fourth 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 last quarter. Aptus Capital Advisors LLC purchased a new position in shares of American Bitcoin in the fourth quarter valued at $33,000. Forty three Eighteen Advisors LLC acquired a new position in shares of American Bitcoin during the 4th quarter worth $34,000. EverSource Wealth Advisors LLC purchased a new stake in shares of American Bitcoin in the 1st quarter worth about $37,000. Finally, Kitching Partners LLC purchased a new stake in shares of American Bitcoin in the 4th quarter worth about $37,000. 10.21% of the stock is owned by hedge funds and other institutional investors.

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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