American Battery Technology Company (NASDAQ:ABAT) Sees Significant Drop in Short Interest

American Battery Technology Company (NASDAQ:ABAT) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 7,480,000 shares, a drop of 38.1% from the September 15th total of 12,090,000 shares. Based on an average daily volume of 8,100,000 shares, the short-interest ratio is presently 0.9 days. Currently, 6.6% of the company’s shares are short sold. Currently, 6.6% of the company’s shares are short sold. Based on an average daily volume of 8,100,000 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ABAT. Wall Street Zen cut shares of American Battery Technology from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of American Battery Technology in a research report on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, American Battery Technology has an average rating of “Sell”.

Institutional Investors Weigh In On American Battery Technology

Large investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in American Battery Technology during the first quarter valued at $144,000. Goldman Sachs Group Inc. bought a new stake in American Battery Technology during the first quarter valued at about $27,000. Charles Schwab Investment Management Inc. bought a new stake in American Battery Technology during the first quarter valued at about $71,000. Bank of America Corp DE boosted its stake in shares of American Battery Technology by 2,724.5% in the second quarter. Bank of America Corp DE now owns 26,183 shares of the company’s stock worth $42,000 after acquiring an additional 25,256 shares during the period. Finally, Engineers Gate Manager LP bought a new position in shares of American Battery Technology in the second quarter worth about $37,000. 9.88% of the stock is currently owned by institutional investors.

American Battery Technology Trading Down 2.6%

ABAT stock opened at $5.94 on Thursday. The business’s 50 day simple moving average is $4.07 and its 200 day simple moving average is $2.47. American Battery Technology has a 1-year low of $0.73 and a 1-year high of $11.49. The firm has a market capitalization of $701.22 million, a PE ratio of -10.07 and a beta of -1.64.

American Battery Technology (NASDAQ:ABAT) last released its earnings results on Thursday, September 18th. The company reported ($0.10) earnings per share (EPS) for the quarter. American Battery Technology had a negative return on equity of 67.35% and a negative net margin of 1,090.07%.The company had revenue of $2.78 million for the quarter.

American Battery Technology Company Profile

American Battery Technology Company operates as a battery materials company. The company explores for resources of battery metals, such as such as lithium, nickel, cobalt, and manganese; and develops and commercializes technologies for the extraction of battery metals, as well as commercializes integrated process for the recycling of lithium-ion batteries.