American Bitcoin (NASDAQ:ABTC) Shares Gap Up – Time to Buy?

American Bitcoin Corp. (NASDAQ:ABTC) gapped up prior to trading on Monday . The stock had previously closed at $1.78, but opened at $1.95. American Bitcoin shares last traded at $2.0325, with a volume of 7,618,376 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ABTC shares. Wall Street Zen raised shares of American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Roth Capital assumed coverage on shares of American Bitcoin in a research note on Wednesday, December 10th. They set a “buy” rating and a $4.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, American Bitcoin presently has a consensus rating of “Hold” and a consensus target price of $4.00.

American Bitcoin Stock Down 3.0%

The stock has a market cap of $1.77 billion, a P/E ratio of -4.24 and a beta of 3.58. The firm’s 50-day moving average is $3.23 and its two-hundred day moving average is $5.23.

Insider Activity

In other American Bitcoin news, Director Richard Busch acquired 101,000 shares of American Bitcoin stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $1.98 per share, with a total value of $199,980.00. Following the purchase, the director owned 1,000,975 shares in the company, valued at approximately $1,981,930.50. This trade represents a 11.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On American Bitcoin

Several institutional investors have recently bought and sold shares of ABTC. EWA LLC acquired a new stake in shares of American Bitcoin in the second quarter worth about $29,000. Procyon Advisors LLC bought a new stake in American Bitcoin during the fourth quarter worth approximately $43,000. CWA Asset Management Group LLC bought a new stake in American Bitcoin during the fourth quarter worth approximately $46,000. Quent Capital LLC acquired a new position in American Bitcoin during the third quarter valued at approximately $52,000. Finally, Bank of America Corp DE bought a new position in shares of American Bitcoin in the third quarter valued at approximately $61,000. 10.21% of the stock is currently owned by institutional investors.

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.