American Bitcoin Corp. (NASDAQ:ABTC) Stock Has Average Target Price of $37.50 According to Brokerages

Key Points

• American Bitcoin has a “Moderate Buy” consensus rating from six analysts: four buys, one hold, and one sell. The average 12-month price target is $37.50, well above the stock’s recent $8.51 price.
• Director Justin Mateen purchased 162,438 shares for roughly $1.0 million, increasing his direct ownership by 49.24%. Corporate insiders own 2.57% of the company, while institutional investors hold 10.21%.
• The company remains financially challenged, reporting a quarterly loss of $0.80 per share, a negative 71.75% net margin, and negative 29.89% return on equity. The stock has also been highly volatile, trading between $4.92 and $110.85 over the past year.

Shares of American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $37.50.

A number of equities research analysts have weighed in on the company. Maxim Group set a $15.00 price target on American Bitcoin and gave the company a "buy" rating in a research report on Tuesday, July 21st. BTIG Research began coverage on American Bitcoin in a report on Wednesday, September 16th. They issued a "buy" rating and a $15.00 price objective for the company. Weiss Ratings reiterated a "sell (d)" rating on shares of American Bitcoin in a research report on Monday, September 21st. Finally, Wall Street Zen lowered American Bitcoin from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th.

Insider Transactions at American Bitcoin

In other news, Director Justin Mateen bought 162,438 shares of the business's stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $6.19 per share, with a total value 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 represents a 49.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ABTC. Renaissance Technologies LLC bought a new stake in American Bitcoin in the first quarter worth $1,589,000. Kingsbury Capital Investment Advisors LLC grew its stake in shares of American Bitcoin by 142.1% during the second quarter. Kingsbury Capital Investment Advisors LLC now owns 2,391,091 shares of the company's stock valued at $1,629,000 after buying an additional 1,403,547 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of American Bitcoin by 54,246.1% during the first quarter. PNC Financial Services Group Inc. now owns 874,972 shares of the company's stock valued at $808,000 after buying an additional 873,362 shares during the last quarter. PCG Wealth Advisors LLC increased its holdings in shares of American Bitcoin by 78.2% in the second quarter. PCG Wealth Advisors LLC now owns 1,222,358 shares of the company's stock worth $833,000 after buying an additional 536,325 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of American Bitcoin by 2,180,227.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 479,672 shares of the company's stock worth $815,000 after buying an additional 479,650 shares during the period. 10.21% of the stock is owned by hedge funds and other institutional investors.

American Bitcoin Price Performance

Shares of NASDAQ:ABTC opened at $8.51 on Friday. The company's fifty day moving average price is $7.86 and its 200-day moving average price is $11.40. The firm has a market capitalization of $619.70 million, a price-to-earnings ratio of -2.79 and a beta of 3.96. American Bitcoin has a one year low of $4.92 and a one year high of $110.85.

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

About American Bitcoin

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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