Wall Street Zen Downgrades American Bitcoin (NASDAQ:ABTC) to Sell
American Bitcoin (NASDAQ:ABTC-Get Free Report)was downgraded byWall Street Zenfrom a "hold" rating to a "sell" rating in a research note issued on Saturday. GetAmerican Bitcoinalerts:The Great Pivot: Bitcoin. . .
American Bitcoin (NASDAQ:ABTC-Get Free Report)was downgraded byWall Street Zenfrom a "hold" rating to a "sell" rating in a research note issued on Saturday. GetAmerican Bitcoinalerts:The Great Pivot: Bitcoin Miners Are Becoming AI’s LandlordsOther research analysts have also recently issued research reports about the stock. Maxim Group set a $15. 00 price objective on shares of American Bitcoin and gave the company a "buy" rating in a research report on Tuesday, July 21st. Zacks Research upgraded shares of American Bitcoin from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Finally,Weiss Ratingsreaffirmed a "sell (d)" rating on shares of American Bitcoin in a research note on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat. com, the stock presently has a consensus rating of "Hold" and an average target price of $45. 00. Get Our Latest Stock Analysis on ABTCAmerican Bitcoin Stock PerformanceNASDAQ ABTCopened at $6. 47 on Friday. The business's 50 day moving average price is $8. 88 and its 200-day moving average price is $14. 24. American Bitcoin has a fifty-two week low of $4. 92 and a fifty-two week high of $217. 80. The company has a market cap of $471. 15 million, a P/E ratio of -2. 12 and a beta of 3. 86. 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. The company 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%. Insider Buying and Selling at American BitcoinIn other American Bitcoin news, DirectorJustin Mateenpurchased 162,438 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average cost of $6. 19 per share, with a total value of $1,005,491. 22. Following the purchase, the director owned 492,297 shares of the company's stock, valued at approximately $3,047,318. 43. The trade was a 49. 24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available atthis hyperlink. Insiders own 2. 57% of the company's stock. Hedge Funds Weigh In On American BitcoinSeveral hedge funds have recently bought and sold shares of the business. Bank of America Corp DE bought a new stake in shares of American Bitcoin during the third quarter worth $61,000. NewEdge Advisors LLC purchased a new stake in shares of American Bitcoin during the third quarter valued at $71,000. Dimensional Fund Advisors LP bought a new position in shares of American Bitcoin in the third quarter worth about $95,000. Integrated Wealth Concepts LLC bought a new position in shares of American Bitcoin in the third quarter worth about $95,000. Finally, CWM LLC increased its stake in American Bitcoin by 1,031. 4% in the 4th quarter. CWM LLC now owns 17,062 shares of the company's stock worth $29,000 after buying an additional 15,554 shares during the period. 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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