American Bitcoin (NASDAQ:ABTC) Research Coverage Started at Roth Capital

Roth Capital started coverage on shares of American Bitcoin (NASDAQ:ABTC) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $4.00 price objective on the stock.

A number of other brokerages also recently weighed in on ABTC. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research report on Monday. Wall Street Zen upgraded shares of American Bitcoin from a “sell” rating to a “hold” rating in a research note on Sunday, November 23rd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.00.

American Bitcoin Trading Down 2.7%

ABTC opened at $1.78 on Wednesday. The stock has a market capitalization of $1.65 billion, a P/E ratio of -3.96 and a beta of 3.46. The firm’s fifty day simple moving average is $4.57 and its 200 day simple moving average is $5.64. American Bitcoin has a 12 month low of $0.63 and a 12 month high of $14.65.

Institutional Trading of American Bitcoin

Several hedge funds have recently bought and sold shares of ABTC. Solari Capital Management LLC purchased a new stake in American Bitcoin in the 3rd quarter worth approximately $317,612,000. Murchinson Ltd. lifted its holdings in shares of American Bitcoin by 271.4% during the 1st quarter. Murchinson Ltd. now owns 2,403,988 shares of the company’s stock worth $409,000 after acquiring an additional 1,756,649 shares during the last quarter. Vident Advisory LLC purchased a new position in shares of American Bitcoin during the 2nd quarter valued at about $965,000. United Capital Management of KS Inc. purchased a new position in shares of American Bitcoin during the third quarter worth approximately $4,886,000. Finally, Millennium Management LLC purchased a new position in shares of American Bitcoin in the third quarter worth about $2,787,000. 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.