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

American Bitcoin Corp. (NASDAQ:ABTC) shares saw strong trading volume on Thursday . 6,099,392 shares traded hands during trading, an increase of 97% from the previous session’s volume of 3,094,682 shares.The stock last traded at $2.43 and had previously closed at $2.39.

Analyst Upgrades and Downgrades

ABTC has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of American Bitcoin in a research note on Tuesday. Wall Street Zen raised American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

American Bitcoin Price Performance

The business’s fifty day simple moving average is $5.07 and its two-hundred day simple moving average is $5.80. The company has a market cap of $2.07 billion, a PE ratio of -4.96 and a beta of 3.46.

Hedge Funds Weigh In On American Bitcoin

A number of hedge funds have recently bought and sold shares of the business. Quent Capital LLC acquired a new stake in American Bitcoin in the 3rd quarter valued at $52,000. Bank of America Corp DE purchased a new position in American Bitcoin during the third quarter valued at $61,000. NewEdge Advisors LLC purchased a new stake in shares of American Bitcoin during the third quarter worth about $71,000. Dimensional Fund Advisors LP purchased a new stake in shares of American Bitcoin during the third quarter worth about $95,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of American Bitcoin during the 3rd quarter worth about $95,000. Hedge funds and other institutional investors 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.