Richard Busch Acquires 90,000 Shares of American Bitcoin (NASDAQ:ABTC) Stock

Key Points

• Director Richard Busch purchased 90,000 shares of American Bitcoin on March 4 at $1.15 each for $103,500, increasing his direct holding to 1,330,975 shares (≈$1.53 million), a 7.25% rise in his position.
• Busch has been actively accumulating shares recently, including 240,000 shares on March 3 at $0.96 ($230,400), 175,000 shares on December 16 at $1.66 ($290,500), and 101,000 shares on December 22 at $1.98 ($199,980).
• ABTC shares jumped about 11.7% after the filing; the company has a market cap of roughly $1.07 billion, trades below its 200‑day moving average, and carries a consensus analyst rating of "Hold" with a $4.00 target amid mixed Buy and Sell coverage.

American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) Director Richard Busch bought 90,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average cost of $1.15 per share, with a total value of $103,500.00. Following the acquisition, the director directly owned 1,330,975 shares of the company's stock, valued at approximately $1,530,621.25. This represents a 7.25% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Richard Busch also recently made the following trade(s):

• On Tuesday, March 3rd, Richard Busch purchased 240,000 shares of American Bitcoin stock. The stock was acquired at an average price of $0.96 per share, for a total transaction of $230,400.00.
• On Monday, December 22nd, Richard Busch purchased 101,000 shares of American Bitcoin stock. The shares were acquired at an average cost of $1.98 per share, for a total transaction of $199,980.00.
• On Tuesday, December 16th, Richard Busch purchased 175,000 shares of American Bitcoin stock. The shares were acquired at an average cost of $1.66 per share, for a total transaction of $290,500.00.

American Bitcoin Stock Up 11.7%

NASDAQ ABTC opened at $1.15 on Thursday. The firm has a 50-day moving average price of $1.45 and a two-hundred day moving average price of $3.93. American Bitcoin Corp. has a 12-month low of $0.63 and a 12-month high of $14.65. The company has a market capitalization of $1.07 billion, a P/E ratio of -2.56 and a beta of 3.81.

Hedge Funds Weigh In On American Bitcoin

A number of hedge funds have recently modified their holdings of ABTC. Quent Capital LLC acquired a new stake in American Bitcoin in the third quarter valued at $52,000. Bank of America Corp DE bought a new stake in shares of American Bitcoin in the 3rd quarter valued at about $61,000. NewEdge Advisors LLC bought a new position in shares of American Bitcoin during the third quarter worth about $71,000. Dimensional Fund Advisors LP acquired a new position in shares of American Bitcoin in the third quarter worth approximately $95,000. Finally, Integrated Wealth Concepts LLC bought a new stake in American Bitcoin in the third quarter valued at approximately $95,000. Institutional investors and hedge funds own 10.21% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ABTC shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of American Bitcoin in a research report on Monday, December 29th. HC Wainwright began coverage on shares of American Bitcoin in a research report on Monday, February 2nd. They issued a "buy" rating and a $4.00 target price for the company. Wall Street Zen raised shares of American Bitcoin from a "sell" rating to a "hold" rating in a report on Sunday, November 23rd. Finally, Roth Mkm assumed coverage on shares of American Bitcoin in a research note on Wednesday, December 10th. They issued a "buy" rating and a $4.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $4.00.

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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