American Bitcoin Corp. (NASDAQ:ABTC) Stock Has Average Target Price of $28.25 According to Analysts

American Bitcoin Corp. (NASDAQ:ABTC) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $28.25.

Several research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of American Bitcoin in a research report on Monday, September 21st. Maxim Group set a $16.00 price objective on shares of American Bitcoin and gave the stock a “buy” rating in a research note on Monday, October 12th. Zacks Research upgraded shares of American Bitcoin to a “hold” rating in a research report on Tuesday, October 13th. Wall Street Zen lowered shares of American Bitcoin from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, HC Wainwright assumed coverage on shares of American Bitcoin in a research note on Monday, October 12th. They set a “buy” rating and a $22.00 price target for the company.

Institutional Investors Weigh In On American Bitcoin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kingsbury Capital Investment Advisors LLC increased its holdings in American Bitcoin by 142.1% in the 2nd quarter. Kingsbury Capital Investment Advisors LLC now owns 2,391,091 shares of the company’s stock worth $1,629,000 after acquiring an additional 1,403,547 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of American Bitcoin during the first quarter worth about $1,589,000. PCG Wealth Advisors LLC raised its position in shares of American Bitcoin by 78.2% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,222,358 shares of the company’s stock worth $833,000 after purchasing an additional 536,325 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of American Bitcoin by 54,246.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 874,972 shares of the company’s stock worth $808,000 after purchasing an additional 873,362 shares during the last quarter. Finally, Yorkville Advisors Global LP acquired a new stake in American Bitcoin in the 1st quarter worth about $369,000. Hedge funds and other institutional investors own 10.21% of the company’s stock.

American Bitcoin Stock Performance

Shares of ABTC opened at $6.24 on Thursday. The company’s fifty day moving average is $8.21 and its 200 day moving average is $12.39. American Bitcoin has a fifty-two week low of $4.92 and a fifty-two week high of $80.35.

American Bitcoin (NASDAQ:ABTC) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $2.86 by ($1.13). American Bitcoin had a negative return on equity of 29.89% and a negative net margin of 71.75%. As a group, sell-side analysts anticipate that American Bitcoin will post 1.24 earnings per share for the current year.

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.