American Battery Technology (NASDAQ:ABAT) Shares Gap Up – What’s Next?

American Battery Technology Company (NASDAQ:ABAT)’s share price gapped up before the market opened on Friday . The stock had previously closed at $3.53, but opened at $3.88. American Battery Technology shares last traded at $4.0950, with a volume of 2,154,644 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABAT shares. Wall Street Zen lowered American Battery Technology from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of American Battery Technology in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

American Battery Technology Price Performance

The stock’s 50 day simple moving average is $4.20 and its two-hundred day simple moving average is $3.95. The firm has a market cap of $545.22 million, a P/E ratio of -8.23 and a beta of -1.34.

American Battery Technology (NASDAQ:ABAT) last issued its earnings results on Thursday, February 5th. The company reported ($0.07) 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 business had revenue of $4.76 million for the quarter.

Insiders Place Their Bets

In other news, insider Scott Jolcover sold 17,500 shares of American Battery Technology stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $3.88, for a total value of $67,900.00. Following the sale, the insider directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Steven Wu sold 12,333 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $4.05, for a total transaction of $49,948.65. Following the transaction, the chief operating officer owned 286,236 shares of the company’s stock, valued at $1,159,255.80. This trade represents a 4.13% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of American Battery Technology

Several institutional investors and hedge funds have recently modified their holdings of ABAT. Quantify Chaos Advisors LLC purchased a new position in American Battery Technology in the fourth quarter valued at about $113,000. Csenge Advisory Group purchased a new position in American Battery Technology during the 4th quarter worth approximately $109,000. ProShare Advisors LLC lifted its position in American Battery Technology by 36.4% during the fourth quarter. ProShare Advisors LLC now owns 20,676 shares of the company’s stock valued at $69,000 after purchasing an additional 5,514 shares during the period. Synergy Investment Management LLC acquired a new position in American Battery Technology in the fourth quarter valued at approximately $100,000. Finally, Elyxium Wealth LLC acquired a new stake in American Battery Technology during the fourth quarter valued at $25,000. Institutional investors own 9.88% of the company’s stock.

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.