American Bitcoin Corp. (NASDAQ:ABTC) Receives Consensus Recommendation of "Hold" from Analysts
Shares of American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) have been assigned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recomme
Shares of American Bitcoin Corp. (NASDAQ:ABTC-Get Free Report) have been assigned a consensus recommendation of "Hold" from the five ratings firms that are presently covering the firm,Marketbeatreports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $45. 00. GetAmerican Bitcoinalerts:The Great Pivot: Bitcoin Miners Are Becoming AI’s LandlordsA number of research analysts have recently commented on ABTC shares. Maxim Group set a $15. 00 price objective on American Bitcoin and gave the company a "buy" rating in a report on Tuesday, July 21st. Weiss Ratingsrestated a "sell (d)" rating on shares of American Bitcoin in a research note on Wednesday, June 24th. Wall Street Zendowngraded American Bitcoin from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Zacks Research raised shares of American Bitcoin from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Read Our Latest Stock Report on ABTCAmerican Bitcoin Trading Down 0. 8%American Bitcoin stockopened at $7. 26 on Friday. The stock has a market cap of $528. 67 million, a P/E ratio of -2. 38 and a beta of 3. 86. The company has a fifty day simple moving average of $8. 16 and a 200-day simple moving average of $13. 66. American Bitcoin has a 12-month low of $4. 92 and a 12-month high of $217. 80. American Bitcoin (NASDAQ:ABTC-Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($0. 80) 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 Activity at American BitcoinIn related news, DirectorJustin Mateenbought 162,438 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average cost of $6. 19 per share, with a total value of $1,005,491. 22. Following the transaction, the director directly owned 492,297 shares of the company's stock, valued at approximately $3,047,318. 43. This represents a 49. 24% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed throughthe SEC website. 2. 57% of the stock is owned by company insiders. Hedge Funds Weigh In On American BitcoinHedge funds have recently made changes to their positions in the company. J. Derek Lewis & Associates Inc. purchased a new stake in shares of American Bitcoin in the 4th quarter valued at about $39,000. Forty three Eighteen Advisors LLC purchased a new position in American Bitcoin during the 4th quarter worth approximately $34,000. Caitong International Asset Management Co. Ltd increased its position in American Bitcoin by 2,180,227. 3% during 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. Aristides Capital LLC purchased a new stake in American Bitcoin in the fourth quarter valued at approximately $200,000. Finally, Marathon Trading Investment Management LLC purchased a new stake in American Bitcoin in the fourth quarter valued at approximately $67,000. Hedge funds and other institutional investors own 10. 21% of the company's stock. American Bitcoin Company Profile(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. 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