American Bitcoin (NASDAQ:ABTC) Posts Quarterly Earnings Results

American Bitcoin (NASDAQ:ABTC) announced its quarterly earnings data on Monday. The company reported ($0.80) earnings per share (EPS) for the quarter, Zacks reports. American Bitcoin had a negative return on equity of 29.72% and a negative net margin of 69.42%.

American Bitcoin Stock Performance

ABTC opened at $5.52 on Monday. American Bitcoin has a 1-year low of $5.04 and a 1-year high of $217.80. The stock’s fifty day simple moving average is $9.89 and its 200 day simple moving average is $14.85. The stock has a market cap of $391.38 million, a PE ratio of -0.74 and a beta of 3.81.

Hedge Funds Weigh In On American Bitcoin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Solari Capital Management LLC bought a new position in shares of American Bitcoin in the third quarter valued at about $317,612,000. Charles Schwab Investment Management Inc. bought a new stake in shares of American Bitcoin during the 4th quarter worth about $5,285,000. Providence Capital Advisors LLC bought a new stake in shares of American Bitcoin during the 4th quarter worth about $4,244,000. State Street Corp grew its stake in American Bitcoin by 3,933.2% in the 4th quarter. State Street Corp now owns 2,392,690 shares of the company’s stock valued at $4,068,000 after buying an additional 2,333,365 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in American Bitcoin in the 4th quarter valued at about $2,773,000. 10.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of American Bitcoin in a report on Wednesday, June 24th. Zacks Research raised shares of American Bitcoin from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Maxim Group set a $15.00 price objective on shares of American Bitcoin and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.00.

American Bitcoin Company Profile

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