American Battery Technology (NASDAQ:ABAT) Trading Up 8.9% – What’s Next?

American Battery Technology Company (NASDAQ:ABAT)’s stock price rose 8.9% on Monday . The company traded as high as $4.33 and last traded at $4.3250. Approximately 2,465,691 shares changed hands during trading, a decline of 58% from the average daily volume of 5,903,549 shares. The stock had previously closed at $3.97.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen downgraded American Battery Technology from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Battery Technology in a research note on Monday, December 8th. One equities 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 Trading Up 6.7%

The firm has a fifty day moving average of $4.64 and a two-hundred day moving average of $3.33. The company has a market cap of $550.42 million, a PE ratio of -8.26 and a beta of -1.42.

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

Insider Buying and Selling

In other news, insider Scott Jolcover sold 17,500 shares of American Battery Technology stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $3.88, for a total transaction of $67,900.00. Following the sale, the insider owned 321,424 shares of the company’s stock, valued at approximately $1,247,125.12. The trade was a 5.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Steven Wu sold 12,333 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $4.05, for a total value of $49,948.65. Following the completion of the transaction, the chief operating officer directly owned 286,236 shares of the company’s stock, valued at $1,159,255.80. This represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On American Battery Technology

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in American Battery Technology by 18.7% in the third quarter. Vanguard Group Inc. now owns 5,277,095 shares of the company’s stock worth $25,647,000 after buying an additional 829,609 shares during the last quarter. Geode Capital Management LLC raised its holdings in American Battery Technology by 113.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company’s stock worth $3,136,000 after acquiring an additional 1,030,323 shares during the last quarter. Millennium Management LLC raised its holdings in American Battery Technology by 8,555.4% in the 3rd quarter. Millennium Management LLC now owns 1,205,614 shares of the company’s stock worth $5,859,000 after acquiring an additional 1,191,685 shares during the last quarter. Soviero Asset Management LP bought a new stake in shares of American Battery Technology in the 3rd quarter worth $3,062,000. Finally, Raymond James Financial Inc. lifted its stake in American Battery Technology by 833.3% during the 3rd quarter. Raymond James Financial Inc. now owns 396,125 shares of the company’s stock valued at $1,925,000 after acquiring an additional 353,681 shares during the period. 9.88% of the stock is owned by hedge funds and other institutional investors.

About American Battery Technology

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.