Wall Street Zen Upgrades American Bitcoin (NASDAQ:ABTC) to Hold

American Bitcoin (NASDAQ:ABTC) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

American Bitcoin Trading Down 0.9%

Shares of NASDAQ ABTC opened at $4.39 on Friday. The firm has a market cap of $72.70 million, a P/E ratio of -9.76 and a beta of 3.84. The business’s 50 day moving average is $5.77 and its 200-day moving average is $5.91. American Bitcoin has a 1-year low of $0.63 and a 1-year high of $14.65.

Institutional Investors Weigh In On American Bitcoin

A number of large investors have recently bought and sold shares of ABTC. EWA LLC bought a new stake in shares of American Bitcoin during the 2nd quarter worth approximately $29,000. Quent Capital LLC acquired a new position in shares of American Bitcoin during the 3rd quarter worth $52,000. Bank of America Corp DE bought a new stake in shares of American Bitcoin during the 3rd quarter worth $61,000. NewEdge Advisors LLC acquired a new position in American Bitcoin during the third quarter worth about $71,000. Finally, Tidal Investments LLC bought a new position in shares of American Bitcoin in the second quarter worth about $87,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

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.