Key Points
- Richard Busch, a director of American Bitcoin, purchased 101,000 shares on Dec. 22 at $1.98 for $199,980, boosting his stake to 1,000,975 shares — a 11.22% increase (he had also bought 175,000 shares on Dec. 16 at $1.66).
- ABTC opened at $1.86 (down 4.6%), trading below its 50‑day ($3.91) and 200‑day ($5.46) moving averages with a $1.73B market cap, and carries mixed analyst coverage with an average target of $4.00 (one Buy, one Hold, one Sell).
American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) Director Richard Busch purchased 101,000 shares of the firm's stock in a transaction dated Monday, December 22nd. The shares were bought at an average price of $1.98 per share, for a total transaction of $199,980.00. Following the completion of the transaction, the director owned 1,000,975 shares of the company's stock, valued at approximately $1,981,930.50. This trade represents a 11.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Richard Busch also recently made the following trade(s):
- On Tuesday, December 16th, Richard Busch acquired 175,000 shares of American Bitcoin stock. The stock was purchased at an average price of $1.66 per share, with a total value of $290,500.00.
American Bitcoin Trading Down 4.6%
Shares of NASDAQ:ABTC opened at $1.86 on Wednesday. The company has a 50 day moving average of $3.91 and a 200 day moving average of $5.46. The stock has a market cap of $1.73 billion, a P/E ratio of -4.13 and a beta of 3.46. American Bitcoin Corp. has a 12 month low of $0.63 and a 12 month high of $14.65.
Wall Street Analysts Forecast Growth
ABTC has been the topic of several research analyst reports. Roth Capital assumed coverage on shares of American Bitcoin in a report on Wednesday, December 10th. They issued a "buy" rating and a $4.00 price target on the stock. Wall Street Zen upgraded American Bitcoin from a "sell" rating to a "hold" rating in a research report on Sunday, November 23rd. Finally, Weiss Ratings restated a "sell (d)" rating on shares of American Bitcoin in a research note on Monday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $4.00.
Check Out Our Latest Stock Report on ABTC
Institutional Trading of American Bitcoin
Several institutional investors and hedge funds have recently made changes to their positions in ABTC. EWA LLC purchased a new position in American Bitcoin in the second quarter worth $29,000. Quent Capital LLC purchased a new stake in American Bitcoin during the third quarter valued at about $52,000. Bank of America Corp DE bought a new stake in American Bitcoin during the third quarter worth about $61,000. NewEdge Advisors LLC purchased a new position in shares of American Bitcoin in the 3rd quarter worth about $71,000. Finally, Tidal Investments LLC bought a new position in shares of American Bitcoin during the 2nd quarter valued at about $87,000. Hedge funds and other institutional investors own 10.21% of the company's stock.
American Bitcoin Company Profile
(
Get Free Report)
Gryphon Digital Mining is an innovative venture in the bitcoin space. Gryphon Digital Mining, formerly known as Akerna Corp., is based in DENVER.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
