United Capital Management of KS Inc. Invests $4.89 Million in American Bitcoin Corp. $ABTC

United Capital Management of KS Inc. acquired a new stake in American Bitcoin Corp. (NASDAQ:ABTC) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 724,975 shares of the company’s stock, valued at approximately $4,886,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABTC. Moloney Securities Asset Management LLC acquired a new stake in shares of American Bitcoin during the third quarter worth about $178,000. Insigneo Advisory Services LLC bought a new position in American Bitcoin in the third quarter valued at approximately $136,000. Dimensional Fund Advisors LP acquired a new position in shares of American Bitcoin in the third quarter valued at approximately $95,000. Quent Capital LLC bought a new stake in shares of American Bitcoin during the third quarter worth $52,000. Finally, Vident Advisory LLC bought a new stake in shares of American Bitcoin during the second quarter worth $965,000. 10.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABTC. Wall Street Zen raised American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of American Bitcoin in a report on Monday, December 29th. Roth Mkm started coverage on shares of American Bitcoin in a research report on Wednesday, December 10th. They issued a “buy” rating and a $4.00 price objective on the stock. Finally, HC Wainwright began coverage on shares of American Bitcoin in a report on Monday, February 2nd. They set a “buy” rating and a $4.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.00.

Insider Transactions at American Bitcoin

In other American Bitcoin news, Director Richard Busch purchased 240,000 shares of American Bitcoin stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average price of $0.96 per share, for a total transaction of $230,400.00. Following the completion of the acquisition, the director owned 1,240,975 shares of the company’s stock, valued at approximately $1,191,336. This trade represents a 23.98% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Justin Mateen acquired 1,800,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average price of $1.03 per share, for a total transaction of $1,854,000.00. Following the purchase, the director directly owned 2,524,975 shares of the company’s stock, valued at approximately $2,600,724.25. This trade represents a 248.28% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 2,406,000 shares of company stock valued at $2,678,380. Insiders own 15.00% of the company’s stock.

American Bitcoin Trading Up 1.7%

NASDAQ ABTC opened at $1.17 on Friday. American Bitcoin Corp. has a 12 month low of $0.63 and a 12 month high of $14.65. The stock has a 50 day moving average of $1.44 and a 200-day moving average of $3.91. The company has a market cap of $1.09 billion, a PE ratio of -2.60 and a beta of 3.81.

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.