American Bitcoin Corp. (NASDAQ:ABTC) Receives $45.00 Consensus Target Price from Brokerages

Shares of American Bitcoin Corp. (NASDAQ:ABTC) have been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $45.00.

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

American Bitcoin Stock Performance

American Bitcoin stock opened at $5.72 on Tuesday. 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 price of $10.95 and a 200 day moving average price of $15.76. The company has a market cap of $405.55 million, a price-to-earnings ratio of -0.76 and a beta of 3.81.

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

Institutional Investors Weigh In On American Bitcoin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Maripau Wealth Management LLC bought a new stake in shares of American Bitcoin during the 1st quarter worth $38,000. J. Derek Lewis & Associates Inc. lifted its holdings in shares of American Bitcoin by 204.3% during the first quarter. J. Derek Lewis & Associates Inc. now owns 70,000 shares of the company’s stock valued at $65,000 after purchasing an additional 47,000 shares during the last quarter. Yu Fan purchased a new stake in shares of American Bitcoin during the first quarter valued at $285,000. EverSource Wealth Advisors LLC acquired a new position in shares of American Bitcoin in the 1st quarter valued at $37,000. Finally, Renaissance Technologies LLC purchased a new position in American Bitcoin in the 1st quarter worth about $1,589,000. 10.21% of the stock is currently 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.