Brokerages Set American Bitcoin Corp. (NASDAQ:ABTC) Price Target at $45.00

American Bitcoin Corp. (NASDAQ:ABTC) has received an average rating of “Hold” from the five research firms that are covering the firm, MarketBeat.com reports. One 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 12 month price objective among brokerages that have covered the stock in the last year is $45.00.

A number of research analysts have commented on ABTC shares. Wall Street Zen lowered American Bitcoin from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Maxim Group set a $15.00 target price on American Bitcoin and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research note on Wednesday, June 24th. Finally, Zacks Research upgraded American Bitcoin from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th.

American Bitcoin Trading Down 6.4%

Shares of ABTC stock opened at $7.93 on Friday. American Bitcoin has a 1 year low of $4.92 and a 1 year high of $217.80. The firm’s 50 day moving average is $7.65 and its 200-day moving average is $13.12. The firm has a market capitalization of $577.46 million, a price-to-earnings ratio of -2.60 and a beta of 3.86.

American Bitcoin (NASDAQ:ABTC) last released its quarterly 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 company had revenue of $67.01 million for the quarter.

Insiders Place Their Bets

In other American Bitcoin news, Director Justin Mateen bought 162,438 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $6.19 per share, for a total transaction of $1,005,491.22. Following the transaction, the director owned 492,297 shares in the company, valued at approximately $3,047,318.43. This trade represents a 49.24% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.57% of the company’s stock.

Institutional Investors Weigh In On American Bitcoin

Several institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of American Bitcoin during the second quarter worth approximately $273,000. Maripau Wealth Management LLC bought a new position in American Bitcoin in the first quarter valued at approximately $38,000. J. Derek Lewis & Associates Inc. boosted its stake in American Bitcoin by 204.3% in the first quarter. J. Derek Lewis & Associates Inc. now owns 70,000 shares of the company’s stock valued at $65,000 after acquiring an additional 47,000 shares during the last quarter. Yu Fan acquired a new stake in American Bitcoin during the 1st quarter worth $285,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in American Bitcoin during the 1st quarter worth $37,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

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.