American Bitcoin (NASDAQ:ABTC) Director Richard Busch Purchases 68,000 Shares

American Bitcoin Corp. (NASDAQ:ABTC) Director Richard Busch bought 68,000 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average price of $1.15 per share, for a total transaction of $78,200.00. Following the transaction, the director owned 1,398,975 shares in the company, valued at $1,608,821.25. This represents a 5.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Richard Busch also recently made the following trade(s):

• On Wednesday, March 4th, Richard Busch purchased 90,000 shares of American Bitcoin stock. The stock was acquired at an average cost of $1.15 per share, for a total transaction of $103,500.00.
• On Tuesday, March 3rd, Richard Busch purchased 240,000 shares of American Bitcoin stock. The shares were acquired at an average price of $0.96 per share, for a total transaction of $230,400.00.
• On Monday, December 22nd, Richard Busch acquired 101,000 shares of American Bitcoin stock. The shares were bought at an average cost of $1.98 per share, with a total value of $199,980.00.
• On Tuesday, December 16th, Richard Busch acquired 175,000 shares of American Bitcoin stock. The stock was bought at an average price of $1.66 per share, with a total value of $290,500.00.

American Bitcoin Stock Up 0.9%

American Bitcoin stock opened at $1.10 on Tuesday. The company has a market capitalization of $1.02 billion, a PE ratio of -2.44 and a beta of 3.81. American Bitcoin Corp. has a 12-month low of $0.63 and a 12-month high of $14.65. The firm’s fifty day moving average is $1.41 and its 200 day moving average is $3.83.

Institutional Trading of American Bitcoin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in American Bitcoin by 2,180,227.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 479,672 shares of the company’s stock worth $815,000 after buying an additional 479,650 shares during the last quarter. Aristides Capital LLC acquired a new position in shares of American Bitcoin during the fourth quarter valued at about $200,000. Virtu Financial LLC grew its holdings in shares of American Bitcoin by 520.6% during the fourth quarter. Virtu Financial LLC now owns 180,105 shares of the company’s stock valued at $306,000 after buying an additional 151,083 shares during the last quarter. Invesco Ltd. increased its position in shares of American Bitcoin by 297.4% during the fourth quarter. Invesco Ltd. now owns 142,524 shares of the company’s stock worth $242,000 after acquiring an additional 106,658 shares in the last quarter. Finally, Strive Financial Group LLC bought a new stake in shares of American Bitcoin during the fourth quarter worth about $52,000. Institutional investors own 10.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ABTC. Wall Street Zen raised shares of American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. HC Wainwright started coverage on American Bitcoin in a research report on Monday, February 2nd. They issued a “buy” rating and a $4.00 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research note on Monday, December 29th. Finally, Roth Mkm initiated coverage on American Bitcoin in a report on Wednesday, December 10th. They issued a “buy” rating and a $4.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.00.

About American Bitcoin

Gryphon Digital Mining is an innovative venture in the bitcoin space. Gryphon Digital Mining, formerly known as Akerna Corp., is based in DENVER.