Justin Mateen Purchases 144,543 Shares of American Bitcoin (NASDAQ:ABTC) Stock

American Bitcoin Corp. (NASDAQ:ABTC) Director Justin Mateen bought 144,543 shares of American Bitcoin stock in a transaction that occurred on Wednesday, August 5th. The stock was bought at an average price of $6.40 per share, with a total value of $925,075.20. Following the completion of the acquisition, the director owned 329,859 shares in the company, valued at approximately $2,111,097.60. The trade was a 78.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, August 6th, Justin Mateen bought 162,438 shares of American Bitcoin stock. The shares were bought at an average cost of $6.19 per share, with a total value of $1,005,491.22.

American Bitcoin Stock Up 4.5%

Shares of ABTC stock opened at $6.47 on Friday. American Bitcoin Corp. has a 12 month low of $4.92 and a 12 month high of $217.80. The business’s 50 day moving average is $8.88 and its two-hundred day moving average is $14.24. The company has a market cap of $471.15 million, a PE ratio of -2.12 and a beta of 3.86.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of American Bitcoin from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research upgraded shares of American Bitcoin from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Maxim Group set a $15.00 price target on American Bitcoin and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of American Bitcoin in a research note on Wednesday, June 24th. Three 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 data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.00.

Institutional Investors Weigh In On American Bitcoin

Several hedge funds have recently modified their holdings of ABTC. Solari Capital Management LLC acquired a new position in American Bitcoin during the 3rd quarter valued at $317,612,000. Charles Schwab Investment Management Inc. acquired a new stake in American Bitcoin in the 4th quarter worth $5,285,000. Providence Capital Advisors LLC acquired a new stake in American Bitcoin in the 4th quarter worth $4,244,000. State Street Corp increased its holdings in shares of American Bitcoin by 3,933.2% during the 4th quarter. State Street Corp now owns 2,392,690 shares of the company’s stock worth $4,068,000 after purchasing an additional 2,333,365 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of American Bitcoin during the 1st quarter worth about $1,589,000. 10.21% of the stock is owned by 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.