Justin Mateen Acquires 162,438 Shares of American Bitcoin (NASDAQ:ABTC) Stock

American Bitcoin Corp. (NASDAQ:ABTC) Director Justin Mateen bought 162,438 shares of American Bitcoin stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $6.19 per share, with a total value of $1,005,491.22. Following the acquisition, the director owned 492,297 shares in the company, valued at approximately $3,047,318.43. This represents a 49.24% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Justin Mateen also recently made the following trade(s):

• On Wednesday, August 5th, Justin Mateen purchased 144,543 shares of American Bitcoin stock. The stock was acquired at an average price of $6.40 per share, with a total value of $925,075.20.

American Bitcoin Price Performance

Shares of NASDAQ:ABTC opened at $6.47 on Friday. American Bitcoin Corp. has a 1 year low of $4.92 and a 1 year high of $217.80. The company has a market cap of $471.15 million, a P/E ratio of -2.12 and a beta of 3.86. The stock’s fifty day moving average price is $8.88 and its 200-day moving average price is $14.24.

American Bitcoin (NASDAQ:ABTC) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.80) EPS for the quarter. American Bitcoin had a negative return on equity of 29.89% and a negative net margin of 71.75%.The business had revenue of $67.01 million during the quarter.

Analyst Ratings Changes

ABTC has been the subject of a number of research analyst reports. Zacks Research upgraded shares of American Bitcoin from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Maxim Group set a $15.00 target price on shares of American Bitcoin and gave the stock a “buy” rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research report on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of American Bitcoin from a “hold” rating to a “sell” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE bought a new position in American Bitcoin in the third quarter worth approximately $61,000. NewEdge Advisors LLC bought a new stake in shares of American Bitcoin during the 3rd quarter valued at $71,000. Dimensional Fund Advisors LP bought a new stake in shares of American Bitcoin during the 3rd quarter valued at $95,000. Integrated Wealth Concepts LLC bought a new stake in shares of American Bitcoin during the 3rd quarter valued at $95,000. Finally, CWM LLC increased its stake in shares of American Bitcoin by 1,031.4% in the 4th 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. Institutional investors own 10.21% of the company’s stock.

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.