American Bitcoin (NASDAQ:ABTC) Shares Gap Up – Time to Buy?

American Bitcoin Corp. (NASDAQ:ABTCGet Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $2.19, but opened at $2.36. American Bitcoin shares last traded at $2.43, with a volume of 14,132,220 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research note on Tuesday. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, American Bitcoin presently has a consensus rating of “Reduce”.

Read Our Latest Research Report on American Bitcoin

American Bitcoin Trading Up 1.3%

The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -5.38 and a beta of 3.46. The stock has a fifty day simple moving average of $5.16 and a 200-day simple moving average of $5.83.

Institutional Investors Weigh In On American Bitcoin

Several institutional investors and hedge funds have recently made changes to their positions in ABTC. EWA LLC bought a new stake in shares of American Bitcoin in the 2nd quarter worth about $29,000. Quent Capital LLC bought a new stake in American Bitcoin during the third quarter worth about $52,000. Bank of America Corp DE acquired a new stake in shares of American Bitcoin during the third quarter worth approximately $61,000. NewEdge Advisors LLC bought a new position in shares of American Bitcoin in the third quarter valued at approximately $71,000. Finally, Tidal Investments LLC bought a new position in American Bitcoin in the 2nd quarter valued at $87,000. Institutional investors and hedge funds 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

Receive News & Ratings for American Bitcoin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Bitcoin and related companies with MarketBeat.com's FREE daily email newsletter.