American Bitcoin (NASDAQ:ABTC) Upgraded at Zacks Research

Key Points

• Zacks upgraded American Bitcoin (ABTC) from a "strong sell" to a "hold"; analysts are mixed (two Buy, one Hold, one Sell) with a consensus price target of $4.00.
• ABTC reported a quarterly loss of about $0.07 EPS, missing estimates and posting a negative net margin (~46%) and negative ROE, while the stock trades near $1.14 with a 52‑week range of $0.77–$14.65.
• Insiders have been buying: directors purchased sizable stakes (68,000 and 1.8M shares), with insiders buying ~2.2M shares over the past three months and owning about 15% of the company.

American Bitcoin (NASDAQ:ABTC - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of American Bitcoin in a research note on Friday, March 27th. HC Wainwright initiated coverage on American Bitcoin in a research note on Monday, February 2nd. They issued a "buy" rating and a $4.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $4.00.

American Bitcoin Stock Down 2.6%

ABTC stock opened at $1.14 on Tuesday. The business's fifty day moving average is $1.05 and its 200-day moving average is $2.26. The company has a market cap of $1.21 billion, a P/E ratio of -1.31 and a beta of 3.75. American Bitcoin has a twelve month low of $0.77 and a twelve month high of $14.65.

American Bitcoin (NASDAQ:ABTC - Get Free Report) last announced its quarterly earnings results on Friday, March 27th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.09). The company had revenue of $78.32 million during the quarter, compared to the consensus estimate of $79.64 million. American Bitcoin had a negative net margin of 46.41% and a negative return on equity of 22.09%. Research analysts anticipate that American Bitcoin will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other American Bitcoin news, Director Richard Busch purchased 68,000 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $1.15 per share, with a total value of $78,200.00. Following the purchase, the director directly owned 1,398,975 shares of the company's stock, valued at $1,608,821.25. The trade was a 5.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justin Mateen purchased 1,800,000 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were acquired at an average cost of $1.03 per share, with a total value of $1,854,000.00. Following the completion of the purchase, the director directly owned 2,524,975 shares in the company, valued at approximately $2,600,724.25. This represents a 248.28% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 2,198,000 shares of company stock valued at $2,266,100. 15.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On American Bitcoin

Large investors have recently made changes to their positions in the stock. United Capital Management of KS Inc. acquired a new stake in American Bitcoin during the 3rd quarter valued at $4,886,000. Moloney Securities Asset Management LLC acquired a new stake in American Bitcoin during the 3rd quarter valued at $178,000. Quent Capital LLC acquired a new stake in American Bitcoin during the 3rd quarter valued at $52,000. Caitong International Asset Management Co. Ltd lifted its holdings in American Bitcoin by 2,180,227.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 479,672 shares of the company's stock valued at $815,000 after purchasing an additional 479,650 shares during the last quarter. Finally, Foundations Investment Advisors LLC acquired a new stake in American Bitcoin during the 4th quarter valued at $221,000. Institutional investors and hedge funds own 10.21% of the company's stock.

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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