American Bitcoin Corp.'s Stock Receives 'Hold' Rating from Analysts
American Bitcoin Corp.'s (NASDAQ:ABTC) stock has received a consensus recommendation of 'Hold' from analysts, according to Marketbeat. This rating comes after five ratings firms have covered the company. While one analyst has given American Bitcoin a sell recommendation and three have issued buy recommendations, this 'Hold' rating is the average of their opinions.
The average 1-year price target among these analysts is $45.00. Maxim Group set a $15.00 price objective on American Bitcoin with a 'buy' rating in a report on July 21st. However, Weiss Ratings restated a 'sell (d)' rating on shares of the company in a research note on June 24th.
Wall Street Zen downgraded American Bitcoin from a 'hold' rating to a 'sell' rating in a report on August 8th. On the other hand, Zacks Research raised shares of American Bitcoin from a 'strong sell' rating to a 'hold' rating in a report on April 28th.
As for insider activity, Director Justin Mateen purchased 162,438 shares of the company's stock at an average cost of $6.19 per share, with a total value of $1,005,491.22. This represents a 49.24% increase in their position.