American Battery Technology (NASDAQ:ABAT) COO Sells $411,108.80 in Stock

American Battery Technology Company (NASDAQ:ABAT) COO Steven Wu sold 115,480 shares of American Battery Technology stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.56, for a total value of $411,108.80. Following the completion of the transaction, the chief operating officer directly owned 342,695 shares in the company, valued at $1,219,994.20. This trade represents a 25.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

American Battery Technology Price Performance

Shares of American Battery Technology stock opened at $3.10 on Thursday. The business’s 50 day simple moving average is $3.28 and its two-hundred day simple moving average is $3.63. The stock has a market capitalization of $422.87 million, a P/E ratio of -5.96 and a beta of -0.01. American Battery Technology Company has a one year low of $1.20 and a one year high of $11.49.

American Battery Technology (NASDAQ:ABAT) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.18). The company had revenue of $7.81 million during the quarter, compared to analysts’ expectations of $3.70 million. American Battery Technology had a negative return on equity of 63.85% and a negative net margin of 390.48%.

Institutional Investors Weigh In On American Battery Technology

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada grew its position in shares of American Battery Technology by 167.4% in the 1st quarter. Royal Bank of Canada now owns 10,133 shares of the company’s stock worth $28,000 after buying an additional 6,344 shares during the last quarter. Sei Investments Co. bought a new stake in shares of American Battery Technology in the 1st quarter worth approximately $84,000. Dimensional Fund Advisors LP grew its position in shares of American Battery Technology by 352.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 644,381 shares of the company’s stock worth $1,794,000 after buying an additional 501,919 shares during the last quarter. Swiss National Bank grew its position in shares of American Battery Technology by 10.5% in the 1st quarter. Swiss National Bank now owns 257,200 shares of the company’s stock worth $718,000 after buying an additional 24,400 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in shares of American Battery Technology during the first quarter valued at approximately $48,000. 9.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABAT has been the topic of a number of recent analyst reports. Weiss Ratings lowered American Battery Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Wall Street Zen lowered American Battery Technology from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Maxim Group initiated coverage on American Battery Technology in a research report on Tuesday, April 28th. They issued a “buy” rating and a $6.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.00.

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.