Key Points
- Richard Busch, a director of American Bitcoin, purchased 68,000 shares on March 5 at $1.15, bringing his direct holdings to 1,398,975 shares — a 5.11% increase valued at about $1.61 million.
- Busch has been aggressively accumulating stock, buying a total of 674,000 shares across trades from Dec. 16 through March 5 (including 240,000 on March 3 and 90,000 on March 4), amid a market consensus rating of "Hold" with an average price target of $4.00.
American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) Director Richard Busch acquired 68,000 shares of the firm's stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of $1.15 per share, with a total value of $78,200.00. Following the completion of the acquisition, the director directly owned 1,398,975 shares in the company, valued at approximately $1,608,821.25. This represents a 5.11% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Richard Busch also recently made the following trade(s):
- On Wednesday, March 4th, Richard Busch acquired 90,000 shares of American Bitcoin stock. The stock was bought at an average cost of $1.15 per share, with a total value of $103,500.00.
- On Tuesday, March 3rd, Richard Busch bought 240,000 shares of American Bitcoin stock. The stock was bought at an average price of $0.96 per share, for a total transaction of $230,400.00.
- On Monday, December 22nd, Richard Busch bought 101,000 shares of American Bitcoin stock. The shares were bought at an average cost of $1.98 per share, for a total transaction of $199,980.00.
- On Tuesday, December 16th, Richard Busch purchased 175,000 shares of American Bitcoin stock. The shares were bought at an average price of $1.66 per share, with a total value of $290,500.00.
American Bitcoin Trading Up 0.9%
NASDAQ ABTC opened at $1.10 on Tuesday. The firm has a market capitalization of $1.02 billion, a P/E ratio of -2.44 and a beta of 3.81. The business has a fifty day simple moving average of $1.41 and a 200 day simple moving average of $3.83. American Bitcoin Corp. has a 12 month low of $0.63 and a 12 month high of $14.65.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on ABTC. Wall Street Zen upgraded shares of American Bitcoin from a "sell" rating to a "hold" rating in a research note on Sunday, November 23rd. HC Wainwright initiated coverage on shares of American Bitcoin in a report on Monday, February 2nd. They set a "buy" rating and a $4.00 price target on the stock. Roth Mkm started coverage on shares of American Bitcoin in a research report on Wednesday, December 10th. They issued a "buy" rating and a $4.00 price objective for the company. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of American Bitcoin in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $4.00.
Read Our Latest Stock Analysis on American Bitcoin
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quent Capital LLC bought a new position in American Bitcoin in the 3rd quarter valued at $52,000. Bank of America Corp DE bought a new stake in shares of American Bitcoin during the 3rd quarter worth $61,000. NewEdge Advisors LLC bought a new stake in shares of American Bitcoin during the 3rd quarter worth $71,000. Dimensional Fund Advisors LP purchased a new position in shares of American Bitcoin in the 3rd quarter worth about $95,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of American Bitcoin in the 3rd quarter worth about $95,000. Hedge funds and other institutional investors own 10.21% of the company's stock.
About American Bitcoin
(
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.
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