American Bitcoin Corp. (NASDAQ:ABTC) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• American Bitcoin has a consensus “Hold” rating from five analysts: three Buys, one Hold, and one Sell. The average 12-month price target is $45.00.
• ABTC opened at $8.41, far below its 52-week high of $153.60, and reported a quarterly loss of $0.80 per share on $67.01 million in revenue, with a negative net margin of 71.75%.
• Director Justin Mateen purchased 162,438 shares for approximately $1.01 million, increasing his position by 49.24%; insiders own 2.57% of the company, while institutions own 10.21%.

American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) has earned a consensus rating of "Hold" from the five research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $45.00.

A number of analysts have issued reports on the company. Maxim Group set a $15.00 target price on American Bitcoin and gave the company a "buy" rating in a report on Tuesday, July 21st. Weiss Ratings restated a "sell (d)" rating on shares of American Bitcoin in a research note on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of American Bitcoin from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th.

American Bitcoin Price Performance

ABTC stock opened at $8.41 on Wednesday. American Bitcoin has a 52-week low of $4.92 and a 52-week high of $153.60. The company has a 50-day moving average of $6.83 and a two-hundred day moving average of $12.26. The stock has a market capitalization of $612.42 million, a price-to-earnings ratio of -2.76 and a beta of 3.92.

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

Insider Transactions at American Bitcoin

In related news, Director Justin Mateen acquired 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, for a total transaction of $1,005,491.22. Following the acquisition, the director 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ABTC. Bank of America Corp DE acquired a new stake in American Bitcoin during the third quarter worth about $61,000. NewEdge Advisors LLC acquired a new position in American Bitcoin in the 3rd quarter valued at approximately $71,000. Dimensional Fund Advisors LP acquired a new position in American Bitcoin in the 3rd quarter valued at approximately $95,000. Integrated Wealth Concepts LLC bought a new stake in shares of American Bitcoin in the 3rd quarter worth approximately $95,000. Finally, CWM LLC grew its holdings in shares of American Bitcoin by 1,031.4% during the 4th quarter. CWM LLC now owns 17,062 shares of the company's stock worth $29,000 after purchasing an additional 15,554 shares in the last quarter. 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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