Scott Jolcover Sells 17,500 Shares of American Battery Technology (NASDAQ:ABAT) Stock

American Battery Technology Company (NASDAQ:ABAT) insider Scott Jolcover sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $3.88, for a total value of $67,900.00. Following the completion of the transaction, the insider directly owned 321,424 shares in the company, valued at $1,247,125.12. The trade was a 5.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

American Battery Technology Trading Up 5.3%

NASDAQ:ABAT opened at $3.97 on Friday. The stock has a 50 day simple moving average of $4.64 and a 200 day simple moving average of $3.31. The stock has a market cap of $515.98 million, a P/E ratio of -7.78 and a beta of -1.42. American Battery Technology Company has a 1-year low of $0.86 and a 1-year high of $11.49.

American Battery Technology (NASDAQ:ABAT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.09) EPS for the quarter. American Battery Technology had a negative net margin of 902.69% and a negative return on equity of 59.93%. The firm had revenue of $0.94 million during the quarter.

Institutional Investors Weigh In On American Battery Technology

Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new position in American Battery Technology in the 1st quarter valued at about $27,000. ProShare Advisors LLC bought a new stake in shares of American Battery Technology during the 2nd quarter worth approximately $27,000. Creative Planning boosted its position in shares of American Battery Technology by 35.8% during the 2nd quarter. Creative Planning now owns 18,958 shares of the company’s stock worth $31,000 after acquiring an additional 5,000 shares in the last quarter. Cetera Investment Advisers increased its stake in American Battery Technology by 67.2% in the second quarter. Cetera Investment Advisers now owns 22,117 shares of the company’s stock valued at $36,000 after acquiring an additional 8,886 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in American Battery Technology in the second quarter valued at approximately $36,000. 9.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABAT has been the subject of several analyst reports. Wall Street Zen cut shares of American Battery Technology from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Battery Technology in a research report on Monday, December 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

American Battery Technology Company Profile

American Battery Technology Company (NASDAQ: ABAT) is a U.S.-based company focused on developing domestic supply chain solutions for critical battery metals. The company’s core activities span from exploration and extraction of lithium resources to the design and operation of recycling facilities targeted at end-of-life batteries and manufacturing scrap. By integrating upstream resource development with downstream recycling, ABAT aims to create a closed-loop system that bolsters North American battery manufacturing.

On the resource side, American Battery Technology holds lithium claystone claims in Nevada’s Clayton Valley and is advancing a pilot direct-extraction facility designed to recover lithium and other valuable metals from brines.