American Bitcoin (NASDAQ:ABTC) Coverage Initiated by Analysts at HC Wainwright

Equities research analysts at HC Wainwright started coverage on shares of American Bitcoin (NASDAQ:ABTC) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 164.90% from the stock’s current price.

Other analysts have also issued reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research note on Monday, December 29th. Wall Street Zen raised American Bitcoin from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. Finally, Roth Mkm began coverage on American Bitcoin in a report on Wednesday, December 10th. They set a “buy” rating and a $4.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, American Bitcoin currently has an average rating of “Hold” and an average target price of $4.00.

American Bitcoin Trading Down 1.9%

NASDAQ ABTC opened at $1.51 on Monday. American Bitcoin has a twelve month low of $0.63 and a twelve month high of $14.65. The business’s 50-day moving average price is $2.08 and its 200 day moving average price is $4.74. The company has a market capitalization of $1.40 billion, a PE ratio of -3.36 and a beta of 3.77.

Insider Activity

In other American Bitcoin news, Director Richard Busch acquired 101,000 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were acquired at an average price of $1.98 per share, for a total transaction of $199,980.00. Following the completion of the acquisition, the director owned 1,000,975 shares in the company, valued at $1,981,930.50. This trade represents a 11.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On American Bitcoin

A number of hedge funds have recently bought and sold shares of the business. CWM LLC increased its holdings 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 purchasing an additional 15,554 shares during the period. Procyon Advisors LLC acquired a new stake in American Bitcoin in the 4th quarter valued at approximately $43,000. CWA Asset Management Group LLC purchased a new position in American Bitcoin in the fourth quarter worth approximately $46,000. Quent Capital LLC acquired a new stake in shares of American Bitcoin in the third quarter valued at approximately $52,000. Finally, Bank of America Corp DE purchased a new stake in shares of American Bitcoin in the third quarter valued at approximately $61,000. Hedge funds and other institutional investors 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.