American Bitcoin (NASDAQ:ABTC) Trading Up 9.8% - Time to Buy?

Shares of American Bitcoin Corp. (NASDAQ:ABTC - Get Free Report) were up 9.8% on Thursday . The company traded as high as $7.63 and last traded at $7.6070. 398,433 shares traded hands during trading, a decline of 63% from the average daily volume of 1,076,741 shares. The stock had previously closed at $6.93.

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Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABTC. Weiss Ratings reiterated a "sell (d)" rating on shares of American Bitcoin in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of American Bitcoin from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Zacks Research upgraded shares of American Bitcoin from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Finally, Maxim Group set a $15.00 price target on shares of American Bitcoin and gave the company a "buy" rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, American Bitcoin presently has a consensus rating of "Hold" and a consensus price target of $45.00.