American Bitcoin (NASDAQ:ABTC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of American Bitcoin (NASDAQ:ABTC) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Zacks Research raised shares of American Bitcoin to a “hold” rating in a report on Tuesday, October 13th. Maxim Group set a $16.00 target price on shares of American Bitcoin and gave the stock a “buy” rating in a report on Monday, October 12th. BTIG Research lowered their target price on shares of American Bitcoin from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. HC Wainwright began coverage on American Bitcoin in a research note on Monday, October 12th. They issued a “buy” rating and a $22.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of American Bitcoin in a research note on Monday, September 21st. Four investment analysts have 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 MarketBeat, American Bitcoin has a consensus rating of “Moderate Buy” and an average target price of $27.50.

American Bitcoin Price Performance

Shares of American Bitcoin stock opened at $5.30 on Friday. The firm has a 50-day moving average of $8.04 and a 200-day moving average of $12.11. American Bitcoin has a 52-week low of $4.91 and a 52-week high of $80.35.

American Bitcoin (NASDAQ:ABTC) last released its quarterly earnings results on Wednesday, November 4th. The company reported $1.73 EPS for the quarter, missing the consensus estimate of $2.86 by ($1.13). American Bitcoin had a negative net margin of 26.74% and a negative return on equity of 10.69%. The business had revenue of $63.35 million during the quarter, compared to analyst estimates of $72.70 million. As a group, equities analysts forecast that American Bitcoin will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC grew its stake in shares of American Bitcoin by 44.8% in the second quarter. Integrated Wealth Concepts LLC now owns 49,517 shares of the company’s stock worth $34,000 after purchasing an additional 15,321 shares during the last quarter. Kingsbury Capital Investment Advisors LLC boosted its position in American Bitcoin by 142.1% during the second quarter. Kingsbury Capital Investment Advisors LLC now owns 2,391,091 shares of the company’s stock valued at $1,629,000 after acquiring an additional 1,403,547 shares during the last quarter. PCG Wealth Advisors LLC grew its holdings in American Bitcoin by 78.2% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,222,358 shares of the company’s stock worth $833,000 after acquiring an additional 536,325 shares during the period. Bank of New York Mellon Corp acquired a new stake in American Bitcoin during the 2nd quarter worth about $273,000. Finally, Maripau Wealth Management LLC acquired a new stake in American Bitcoin during the 1st quarter worth about $38,000. 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.