American Bitcoin (NASDAQ:ABTC) Sees Strong Trading Volume – What’s Next?

American Bitcoin Corp. (NASDAQ:ABTC) shares saw an uptick in trading volume on Monday . 3,779,362 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 3,841,977 shares.The stock last traded at $1.94 and had previously closed at $1.78.

Wall Street Analysts Forecast Growth

ABTC has been the topic of a number of research reports. Roth Capital began 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. Wall Street Zen raised American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of American Bitcoin in a research report on Monday, December 15th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $4.00.

American Bitcoin Stock Up 11.2%

The stock has a market capitalization of $1.84 billion, a P/E ratio of -4.40 and a beta of 3.46. The stock has a 50 day simple moving average of $4.07 and a two-hundred day simple moving average of $5.51.

Insider Transactions at American Bitcoin

In other news, Director Richard Busch purchased 175,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was purchased at an average price of $1.66 per share, for a total transaction of $290,500.00. Following the completion of the purchase, the director directly owned 899,975 shares in the company, valued at $1,493,958.50. The trade was a 24.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On American Bitcoin

Institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new stake in shares of American Bitcoin in the third quarter valued at approximately $71,000. Solari Capital Management LLC bought a new position in American Bitcoin during the third quarter worth $317,612,000. Qube Research & Technologies Ltd bought a new position in American Bitcoin during the third quarter worth $200,000. Prelude Capital Management LLC acquired a new position in shares of American Bitcoin in the third quarter valued at $811,000. Finally, Millennium Management LLC bought a new position in shares of American Bitcoin in the third quarter valued at about $2,787,000. Institutional investors and hedge funds own 10.21% of the company’s stock.

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.