ABTC Earnings Loom: Analysts Expect $0.15 EPS as Short Interest Rises
American Bitcoin Corp. (NASDAQ:ABTC) is set to report its second-quarter earnings on Monday, and investors are keeping a close eye on the company's performance.
Analysts expect ABTC to post earnings per share of $0.15, with quarterly revenue projected at $73.80 million, up 19% from the prior quarter. The consensus price target for ABTC is $8 based on ratings from three analysts, with Maxim Group estimating a higher target of $15.
However, short interest in the stock has climbed to 3.2% of the company's publicly available float, which some interpret as a bearish signal. TradingView data shows that the Moving Average Convergence Divergence indicator flashed a 'Buy' signal for ABTC, but the Bull Bear Power and Relative Strength Index indicators remain neutral.
American Bitcoin has had a tumultuous journey since its IPO in September last year, with its stock plummeting 95% and burning $500 million in shareholder value. The company's co-founder, Eric Trump, has seen his personal wealth increase from $190 million to $280 million during this period.