American Bitcoin Corp. (NASDAQ:ABTC) Given Consensus Recommendation of “Hold” by Analysts

American Bitcoin Corp. (NASDAQ:ABTC) has earned a consensus rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $45.00.

Several equities analysts have issued reports on the stock. Maxim Group set a $15.00 price target on shares of American Bitcoin and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d)” rating on shares of American Bitcoin in a report on Wednesday, June 24th. Finally, Zacks Research upgraded American Bitcoin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th.

American Bitcoin Stock Up 11.7%

Shares of NASDAQ ABTC traded up $0.68 during mid-day trading on Tuesday, reaching $6.45. 1,368,385 shares of the company were exchanged, compared to its average volume of 1,053,807. American Bitcoin has a 1 year low of $5.04 and a 1 year high of $217.80. The firm has a 50-day moving average of $11.83 and a 200 day moving average of $16.24. The stock has a market cap of $456.95 million, a price-to-earnings ratio of -0.86 and a beta of 3.81.

American Bitcoin (NASDAQ:ABTC) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($1.35). American Bitcoin had a negative net margin of 69.42% and a negative return on equity of 29.72%. The firm had revenue of $62.12 million for the quarter, compared to analysts’ expectations of $74.85 million.

Institutional Investors Weigh In On American Bitcoin

Institutional investors have recently added to or reduced their stakes in the business. Solari Capital Management LLC acquired a new position in shares of American Bitcoin during the third quarter valued at about $317,612,000. Charles Schwab Investment Management Inc. acquired a new stake in American Bitcoin in the 4th quarter worth approximately $5,285,000. Providence Capital Advisors LLC purchased a new stake in American Bitcoin during the 4th quarter worth approximately $4,244,000. State Street Corp increased its stake in American Bitcoin by 3,933.2% during the 4th quarter. State Street Corp now owns 2,392,690 shares of the company’s stock valued at $4,068,000 after purchasing an additional 2,333,365 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of American Bitcoin in the first quarter worth $1,589,000. Institutional investors and hedge funds 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.