American Bitcoin (NASDAQ:ABTC) Director Justin Mateen Buys 144,543 Shares

American Bitcoin Corp. (NASDAQ:ABTC) Director Justin Mateen bought 144,543 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of $6.40 per share, with a total value of $925,075.20. Following the completion of the purchase, the director directly owned 329,859 shares of the company’s stock, valued at $2,111,097.60. This represents a 78.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Justin Mateen also recently made the following trade(s):

• On Thursday, August 6th, Justin Mateen purchased 162,438 shares of American Bitcoin stock. The shares were acquired at an average price of $6.19 per share, for a total transaction of $1,005,491.22.

American Bitcoin Stock Up 4.5%

American Bitcoin stock traded up $0.28 on Friday, hitting $6.47. The company’s stock had a trading volume of 1,148,724 shares, compared to its average volume of 1,080,810. The firm has a market cap of $458.72 million, a P/E ratio of -2.12 and a beta of 3.86. The company has a fifty day moving average price of $9.09 and a 200-day moving average price of $14.29. American Bitcoin Corp. has a one year low of $4.92 and a one year high of $217.80.

American Bitcoin (NASDAQ:ABTC) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.80) earnings per share (EPS) for the quarter. The business had revenue of $67.01 million during the quarter. American Bitcoin had a negative net margin of 71.75% and a negative return on equity of 29.89%.

Analyst Ratings Changes

ABTC has been the subject of a number of analyst reports. Zacks Research upgraded shares of American Bitcoin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Maxim Group set a $15.00 price objective on American Bitcoin and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.00.

Institutional Investors Weigh In On American Bitcoin

Institutional investors and hedge funds have recently made changes to their positions in the company. HUB Investment Partners LLC bought a new stake in shares of American Bitcoin in the 2nd quarter worth about $114,000. Moore Capital Management LP bought a new position in American Bitcoin during the 2nd quarter valued at about $88,000. Tidal Investments LLC bought a new position in American Bitcoin during the 2nd quarter valued at about $87,000. Vident Advisory LLC acquired a new position in American Bitcoin in the second quarter valued at about $965,000. Finally, JPMorgan Chase & Co. acquired a new position in American Bitcoin in the third quarter valued at about $192,000. Institutional investors and hedge funds 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.