Shares of American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $28.25.
ABTC has been the topic of a number of recent research reports. Maxim Group set a $16.00 price target on shares of American Bitcoin and gave the company a "buy" rating in a report on Monday, October 12th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of American Bitcoin in a research note on Monday, September 21st. Zacks Research upgraded shares of American Bitcoin to a "hold" rating in a report on Tuesday, October 13th. BTIG Research started coverage on shares of American Bitcoin in a report on Wednesday, September 16th. They issued a "buy" rating and a $15.00 price objective for the company. Finally, HC Wainwright initiated coverage on shares of American Bitcoin in a research report on Monday, October 12th. They set a "buy" rating and a $22.00 target price on the stock.
View Our Latest Report on American Bitcoin
Insiders Place Their Bets
In other news, Director Justin Mateen purchased 162,438 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were bought at an average price of $6.19 per share, with a total value of $1,005,491.22. Following the completion of the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.57% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its holdings in American Bitcoin by 44.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 49,517 shares of the company's stock valued at $34,000 after buying an additional 15,321 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in American Bitcoin in the 1st quarter worth approximately $37,000. Maripau Wealth Management LLC acquired a new position in shares of American Bitcoin during the first quarter worth approximately $38,000. J. Derek Lewis & Associates Inc. lifted its holdings in shares of American Bitcoin by 204.3% during the first quarter. J. Derek Lewis & Associates Inc. now owns 70,000 shares of the company's stock worth $65,000 after buying an additional 47,000 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of American Bitcoin by 247.2% during the first quarter. Cetera Investment Advisers now owns 73,887 shares of the company's stock worth $68,000 after buying an additional 52,608 shares during the last quarter. Institutional investors and hedge funds own 10.21% of the company's stock.
American Bitcoin Price Performance
ABTC opened at $7.97 on Thursday. The business has a 50 day moving average price of $8.39 and a two-hundred day moving average price of $12.90. American Bitcoin has a 1-year low of $4.92 and a 1-year high of $84.66. The company has a market capitalization of $580.38 million, a price-to-earnings ratio of -2.61 and a beta of 3.96.
American Bitcoin (NASDAQ:ABTC - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported ($0.80) earnings per share for the quarter. The firm had revenue of $67.01 million during the quarter. American Bitcoin had a negative return on equity of 29.89% and a negative net margin of 71.75%. Equities analysts expect that American Bitcoin will post 1.24 EPS for the current fiscal year.
About American Bitcoin
(
Get Free Report)
Gryphon Digital Mining is an innovative venture in the bitcoin space. Gryphon Digital Mining, formerly known as Akerna Corp., is based in DENVER.
Further Reading
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