American Bitcoin (NASDAQ:ABTC) Earns Buy Rating from Analysts at Roth Capital

Stock analysts at Roth Capital initiated coverage on shares of American Bitcoin (NASDAQ:ABTC) in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Roth Capital’s price target suggests a potential upside of 106.19% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on ABTC. Wall Street Zen raised American Bitcoin from a “sell” rating to a “hold” rating in a report on Sunday, November 23rd. Weiss Ratings restated a “sell (d)” rating on shares of American Bitcoin in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, American Bitcoin has an average rating of “Hold” and a consensus price target of $4.00.

American Bitcoin Trading Down 5.4%

NASDAQ ABTC opened at $1.94 on Wednesday. American Bitcoin has a 1-year low of $0.63 and a 1-year high of $14.65. The company has a 50 day moving average of $4.78 and a 200-day moving average of $5.70. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -4.31 and a beta of 3.46.

Institutional Investors Weigh In On American Bitcoin

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Solari Capital Management LLC acquired a new position in shares of American Bitcoin during the third quarter valued at $317,612,000. Murchinson Ltd. raised its holdings in American Bitcoin by 271.4% during the 1st quarter. Murchinson Ltd. now owns 2,403,988 shares of the company’s stock worth $409,000 after purchasing an additional 1,756,649 shares during the last quarter. Vident Advisory LLC acquired a new position in American Bitcoin during the 2nd quarter valued at about $965,000. United Capital Management of KS Inc. bought a new position in shares of American Bitcoin in the 3rd quarter valued at about $4,886,000. Finally, Millennium Management LLC acquired a new stake in shares of American Bitcoin during the 3rd quarter worth approximately $2,787,000. 10.21% of the stock is owned by institutional investors and hedge funds.

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.