American Bitcoin Corp. (NASDAQ:ABTC) Short Interest Up 144.1% in June

American Bitcoin Corp. (NASDAQ:ABTC) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 25,690,064 shares, a growth of 144.1% from the June 15th total of 10,525,932 shares. Currently, 37.2% of the shares of the company are sold short. Based on an average daily volume of 13,208,515 shares, the days-to-cover ratio is currently 1.9 days.

American Bitcoin Stock Performance

American Bitcoin stock opened at $5.65 on Thursday. The business’s 50-day simple moving average is $12.56 and its 200-day simple moving average is $16.70. The firm has a market capitalization of $400.60 million, a PE ratio of -0.75 and a beta of 3.81. American Bitcoin has a 52 week low of $5.05 and a 52 week high of $217.80.

American Bitcoin (NASDAQ:ABTC) last announced its earnings results on Wednesday, May 6th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($1.35). The business had revenue of $62.12 million for the quarter, compared to the consensus estimate of $74.85 million. American Bitcoin had a negative net margin of 69.42% and a negative return on equity of 29.72%.

Institutional Investors Weigh In On American Bitcoin

Hedge funds have recently modified their holdings of the business. CWM LLC increased its position in American Bitcoin by 1,031.4% during the fourth quarter. CWM LLC now owns 17,062 shares of the company’s stock worth $29,000 after acquiring an additional 15,554 shares during the period. Aptus Capital Advisors LLC bought a new stake in American Bitcoin in the 4th quarter valued at $33,000. Forty three Eighteen Advisors LLC bought a new stake in American Bitcoin in the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC bought a new stake in American Bitcoin in the 1st quarter valued at $37,000. Finally, Kitching Partners LLC acquired a new stake in American Bitcoin in the 4th quarter worth $37,000. 10.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ABTC. Weiss Ratings reissued a “sell (d)” rating on shares of American Bitcoin in a research report on Wednesday, June 24th. Zacks Research raised shares of American Bitcoin from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.00.

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.