American Bitcoin Corp. (NASDAQ:ABTC – Get Free Report) was the target of unusually large options trading on Wednesday. Investors bought 46,216 call options on the stock. This is an increase of 821% compared to the typical daily volume of 5,017 call options.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Murchinson Ltd. increased its stake in shares of American Bitcoin by 271.4% in the 1st quarter. Murchinson Ltd. now owns 2,403,988 shares of the company’s stock valued at $409,000 after buying an additional 1,756,649 shares during the period. Vident Advisory LLC acquired a new stake in shares of American Bitcoin in the 2nd quarter valued at $965,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of American Bitcoin in the 1st quarter valued at $66,000. HUB Investment Partners LLC acquired a new stake in shares of American Bitcoin in the 2nd quarter valued at $114,000. Finally, Moore Capital Management LP acquired a new stake in shares of American Bitcoin in the 2nd quarter valued at $88,000. 10.21% of the stock is currently owned by institutional investors.
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American Bitcoin Price Performance
Shares of ABTC opened at $7.20 on Thursday. The company has a market capitalization of $119.23 million, a P/E ratio of -6.00 and a beta of 3.92. American Bitcoin has a one year low of $0.63 and a one year high of $14.65. The business’s 50 day simple moving average is $6.75 and its 200-day simple moving average is $4.70.
American Bitcoin (NASDAQ:ABTC – Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.35) EPS for the quarter. The firm had revenue of $1.38 million during the quarter. On average, sell-side analysts anticipate that American Bitcoin will post -0.76 EPS for the current fiscal year.
About American Bitcoin
(Get Free Report)
Gryphon Digital Mining is an innovative venture in the bitcoin space. Gryphon Digital Mining, formerly known as Akerna Corp., is based in DENVER.
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