American Bitcoin (NASDAQ:ABTC) Stock Scheduled to Reverse Split on Monday, July 6th

Shares of American Bitcoin Corp. (NASDAQ:ABTC) are going to reverse split on Monday, July 6th. The 1-15 reverse split was announced on Wednesday, July 1st. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, July 2nd.

American Bitcoin Price Performance

Shares of American Bitcoin stock opened at $0.62 on Thursday. The firm’s fifty day simple moving average is $1.00 and its 200-day simple moving average is $1.21. The stock has a market capitalization of $663.42 million, a price-to-earnings ratio of -1.25 and a beta of 3.81. American Bitcoin has a 12 month low of $0.61 and a 12 month high of $14.52.

American Bitcoin (NASDAQ:ABTC) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). The business had revenue of $62.12 million during the quarter, compared to analysts’ expectations of $74.85 million. American Bitcoin had a negative net margin of 69.42% and a negative return on equity of 29.72%. Analysts anticipate that American Bitcoin will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ABTC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a report on Wednesday, June 24th. Zacks Research raised American Bitcoin from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.00.

Hedge Funds Weigh In On American Bitcoin

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in shares of American Bitcoin in the 3rd quarter valued at approximately $61,000. NewEdge Advisors LLC acquired a new position in American Bitcoin during the third quarter worth $71,000. Dimensional Fund Advisors LP acquired a new position in American Bitcoin during the third quarter worth $95,000. Integrated Wealth Concepts LLC purchased a new stake in American Bitcoin during the third quarter worth $95,000. Finally, CWM LLC boosted its position in American Bitcoin by 1,031.4% during the fourth quarter. CWM LLC now owns 17,062 shares of the company’s stock worth $29,000 after purchasing an additional 15,554 shares in the last quarter. 10.21% of the stock is owned by hedge funds and other institutional investors.

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.