Richard Busch Buys 101,000 Shares of American Bitcoin (NASDAQ:ABTC) Stock

American Bitcoin Corp. (NASDAQ:ABTC) Director Richard Busch purchased 101,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was bought at an average cost of $1.98 per share, for a total transaction of $199,980.00. Following the completion of the purchase, the director directly owned 1,000,975 shares of the company’s stock, valued at $1,981,930.50. The trade was a 11.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Richard Busch also recently made the following trade(s):

• On Tuesday, December 16th, Richard Busch bought 175,000 shares of American Bitcoin stock. The stock was purchased at an average price of $1.66 per share, for a total transaction of $290,500.00.

American Bitcoin Price Performance

Shares of ABTC stock opened at $1.88 on Thursday. American Bitcoin Corp. has a fifty-two week low of $0.63 and a fifty-two week high of $14.65. The stock’s 50-day moving average is $3.83 and its two-hundred day moving average is $5.43. The firm has a market cap of $1.74 billion, a P/E ratio of -4.18 and a beta of 3.46.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ABTC shares. Wall Street Zen raised shares of American Bitcoin from a “sell” rating to a “hold” rating in a research report on Sunday, November 23rd. Weiss Ratings restated a “sell (d)” rating on shares of American Bitcoin in a report on Monday. Finally, Roth Capital started coverage on shares of American Bitcoin in a research note on Wednesday, December 10th. They issued a “buy” rating and a $4.00 price objective for the company. One 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. According to MarketBeat.com, American Bitcoin has a consensus rating of “Hold” and an average target price of $4.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. EWA LLC bought a new stake in shares of American Bitcoin in the second quarter valued at about $29,000. Quent Capital LLC acquired a new position in American Bitcoin in the 3rd quarter valued at approximately $52,000. Bank of America Corp DE bought a new stake in shares of American Bitcoin in the 3rd quarter worth approximately $61,000. NewEdge Advisors LLC bought a new stake in shares of American Bitcoin in the 3rd quarter worth approximately $71,000. Finally, Tidal Investments LLC acquired a new stake in shares of American Bitcoin during the 2nd quarter worth approximately $87,000. 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.