American Bitcoin Corp. (NASDAQ:ABTC) Receives Consensus Rating of “Hold” from Analysts

American Bitcoin Corp. (NASDAQ:ABTC) has been given an average recommendation of “Hold” by the five research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $45.00.

A number of equities research analysts have recently commented on ABTC shares. Zacks Research raised American Bitcoin from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research note on Wednesday, June 24th. Finally, Maxim Group set a $15.00 target price on shares of American Bitcoin and gave the stock a “buy” rating in a report on Tuesday, July 21st.

American Bitcoin Stock Up 2.6%

Shares of ABTC stock opened at $5.87 on Tuesday. American Bitcoin has a 12-month low of $5.04 and a 12-month high of $217.80. The firm has a fifty day moving average of $10.76 and a 200-day moving average of $15.49. The firm has a market capitalization of $416.20 million, a price-to-earnings ratio of -0.78 and a beta of 3.81.

American Bitcoin (NASDAQ:ABTC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($1.35). The business had revenue of $62.12 million for the quarter, compared to analyst estimates of $74.85 million. American Bitcoin had a negative return on equity of 29.72% and a negative net margin of 69.42%.

Institutional Investors Weigh In On American Bitcoin

A number of hedge funds and other institutional investors have recently made changes to their positions in ABTC. CWM LLC lifted its position in American Bitcoin by 1,031.4% during 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 in the last quarter. Aptus Capital Advisors LLC bought a new position in shares of American Bitcoin during the 4th quarter worth approximately $33,000. Forty three Eighteen Advisors LLC bought a new stake in American Bitcoin in the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC acquired a new stake in American Bitcoin during the 1st quarter valued at $37,000. Finally, Kitching Partners LLC acquired a new stake in American Bitcoin during the 4th quarter valued at $37,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.