American Bitcoin (NASDAQ:ABTC) Coverage Initiated by Analysts at Roth Capital

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

ABTC has been the topic of a number of other reports. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research report on Monday. Wall Street Zen raised American Bitcoin from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. One 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.00.

American Bitcoin Stock Performance

ABTC stock opened at $1.91 on Wednesday. The company’s 50 day moving average price is $4.78 and its 200 day moving average price is $5.70. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -4.24 and a beta of 3.46. American Bitcoin has a fifty-two week low of $0.63 and a fifty-two week high of $14.65.

Hedge Funds Weigh In On American Bitcoin

A number of hedge funds have recently modified their holdings of the business. EWA LLC purchased a new position in American Bitcoin during the 2nd quarter worth $29,000. Quent Capital LLC acquired a new position in American Bitcoin in the 3rd quarter valued at about $52,000. Bank of America Corp DE purchased a new position in shares of American Bitcoin in the 3rd quarter valued at approximately $61,000. NewEdge Advisors LLC purchased a new stake in shares of American Bitcoin during the third quarter worth approximately $71,000. Finally, Tidal Investments LLC acquired a new stake in shares of American Bitcoin during the second quarter worth $87,000. 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.