American Bitcoin Corp. (NASDAQ:ABTC) Stock Has Average Target Price of $37.50 According to Analysts

Shares of American Bitcoin Corp. (NASDAQ:ABTC) have earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $37.50.

A number of research firms have commented on ABTC. 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 restated a “sell (d)” rating on shares of American Bitcoin in a research report on Monday, September 21st. Wall Street Zen downgraded American Bitcoin from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, BTIG Research assumed coverage on shares of American Bitcoin in a research report on Wednesday, September 16th. They issued a “buy” rating and a $15.00 price objective on the stock.

American Bitcoin Trading Down 3.0%

ABTC stock opened at $8.45 on Friday. The firm has a 50 day moving average of $7.98 and a 200-day moving average of $11.27. The company has a market cap of $615.33 million, a price-to-earnings ratio of -2.77 and a beta of 3.96. American Bitcoin has a 12-month low of $4.92 and a 12-month high of $109.95.

American Bitcoin (NASDAQ:ABTC) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.80) earnings per share for the quarter. American Bitcoin had a negative return on equity of 29.89% and a negative net margin of 71.75%.The firm had revenue of $67.01 million during the quarter.

Insiders Place Their Bets

In other American Bitcoin news, Director Justin Mateen bought 162,438 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was purchased at an average cost of $6.19 per share, for a total transaction of $1,005,491.22. Following the acquisition, the director owned 492,297 shares of the company’s stock, valued at $3,047,318.43. The trade was a 49.24% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.57% of the company’s stock.

Institutional Trading of American Bitcoin

Several institutional investors and hedge funds have recently modified their holdings of ABTC. Forty three Eighteen Advisors LLC purchased a new position in shares of American Bitcoin during the 4th quarter worth approximately $34,000. Integrated Wealth Concepts LLC lifted its stake in American Bitcoin by 44.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 49,517 shares of the company’s stock valued at $34,000 after buying an additional 15,321 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in American Bitcoin in the 1st quarter valued at approximately $37,000. Maripau Wealth Management LLC acquired a new stake in American Bitcoin during the 1st quarter valued at $38,000. Finally, J. Derek Lewis & Associates Inc. acquired a new stake in American Bitcoin during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

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.