American Bitcoin (NASDAQ:ABTC) Director Richard Busch Buys 68,000 Shares

American Bitcoin Corp. (NASDAQ:ABTC) Director Richard Busch purchased 68,000 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were bought at an average price of $1.15 per share, for a total transaction of $78,200.00. Following the acquisition, the director owned 1,398,975 shares in the company, valued at $1,608,821.25. This trade represents a 5.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, March 4th, Richard Busch acquired 90,000 shares of American Bitcoin stock. The shares were bought at an average cost of $1.15 per share, with a total value of $103,500.00.
• On Tuesday, March 3rd, Richard Busch bought 240,000 shares of American Bitcoin stock. The shares were purchased 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 purchased at an average price of $1.98 per share, with a total value of $199,980.00.
• On Tuesday, December 16th, Richard Busch acquired 175,000 shares of American Bitcoin stock. The stock was purchased at an average cost of $1.66 per share, for a total transaction of $290,500.00.

American Bitcoin Trading Down 6.8%

American Bitcoin stock opened at $1.09 on Monday. The company has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $3.86. The stock has a market cap of $1.01 billion, a P/E ratio of -2.42 and a beta of 3.81. American Bitcoin Corp. has a 12-month low of $0.63 and a 12-month high of $14.65.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABTC. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research report on Monday, December 29th. 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 target on the stock. HC Wainwright started coverage on shares of American Bitcoin in a report on Monday, February 2nd. They set a “buy” rating and a $4.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.00.

Institutional Trading of American Bitcoin

A number of large investors have recently made changes to their positions in ABTC. United Capital Management of KS Inc. acquired a new position in American Bitcoin during the third quarter worth approximately $4,886,000. Moloney Securities Asset Management LLC purchased a new position in shares of American Bitcoin during the third quarter worth approximately $178,000. Quent Capital LLC acquired a new position in shares of American Bitcoin in the 3rd quarter valued at $52,000. Kitching Partners LLC purchased a new stake in American Bitcoin in the 4th quarter valued at $37,000. Finally, Aptus Capital Advisors LLC purchased a new stake in American Bitcoin in the 4th quarter valued at $33,000. 10.21% of the stock is owned by institutional investors and hedge funds.

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.