Key Points
- Director Justin Mateen bought 144,543 American Bitcoin shares at an average price of $6.40, investing approximately $925,000 and increasing his direct stake by 78% to 329,859 shares. He also purchased an additional 162,438 shares the following day for about $1.01 million.
- American Bitcoin reported a quarterly loss of $0.80 per share on $67.01 million in revenue, with a negative net margin of 71.75%. Shares opened at $6.47 and have traded between $4.92 and $217.80 over the past year.
- Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and a $45 average price target. Institutional investors and hedge funds own 10.21% of the company.
American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) Director Justin Mateen acquired 144,543 shares of the stock in a transaction on Wednesday, August 5th. The shares were acquired at an average cost of $6.40 per share, for a total transaction of $925,075.20. Following the completion of the transaction, the director directly owned 329,859 shares in the company, valued at $2,111,097.60. The trade was a 78.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was acquired at an average cost of $6.19 per share, with a total value of $1,005,491.22.
American Bitcoin Stock Performance
Shares of NASDAQ:ABTC opened at $6.47 on Friday. American Bitcoin Corp. has a one year low of $4.92 and a one year high of $217.80. The stock has a market capitalization of $471.15 million, a price-to-earnings ratio of -2.12 and a beta of 3.86. The company has a 50-day simple moving average of $8.88 and a 200-day simple moving average of $14.24.
American Bitcoin (NASDAQ:ABTC - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.80) earnings per share (EPS) for the quarter. The company had revenue of $67.01 million for the quarter. American Bitcoin had a negative return on equity of 29.89% and a negative net margin of 71.75%.
Institutional Investors Weigh In On American Bitcoin
A number of large investors have recently added to or reduced their stakes in ABTC. Solari Capital Management LLC purchased a new position in American Bitcoin during the 3rd quarter valued at about $317,612,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of American Bitcoin in the fourth quarter valued at approximately $5,285,000. Providence Capital Advisors LLC acquired a new stake in shares of American Bitcoin in the fourth quarter valued at approximately $4,244,000. State Street Corp increased its stake 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 in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of American Bitcoin during the 1st quarter worth approximately $1,589,000. 10.21% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Zacks Research raised American Bitcoin from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a "sell (d)" rating on shares of American Bitcoin in a research report on Wednesday, June 24th. Maxim Group set a $15.00 target price on shares of American Bitcoin and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen cut shares of American Bitcoin from a "hold" rating to a "sell" rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $45.00.
View Our Latest Report on ABTC
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.
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