American Battery Technology (NASDAQ:ABAT) Posts Earnings Results

American Battery Technology (NASDAQ:ABAT) issued its earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, FiscalAI reports. American Battery Technology had a negative return on equity of 67.35% and a negative net margin of 1,090.07%.The firm had revenue of $0.94 million during the quarter.

American Battery Technology Price Performance

Shares of NASDAQ ABAT opened at $4.43 on Friday. American Battery Technology has a 1-year low of $0.73 and a 1-year high of $11.49. The business’s 50 day moving average is $4.62 and its two-hundred day moving average is $2.79. The stock has a market capitalization of $522.96 million, a P/E ratio of -7.51 and a beta of -1.64.

Hedge Funds Weigh In On American Battery Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in American Battery Technology by 18.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,277,095 shares of the company’s stock valued at $25,647,000 after buying an additional 829,609 shares during the period. Geode Capital Management LLC boosted its stake in American Battery Technology by 113.8% during the second quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company’s stock worth $3,136,000 after buying an additional 1,030,323 shares during the period. XTX Topco Ltd bought a new position in American Battery Technology during the first quarter valued at $144,000. Rhumbline Advisers increased its position in American Battery Technology by 16.0% during the third quarter. Rhumbline Advisers now owns 86,929 shares of the company’s stock valued at $422,000 after acquiring an additional 11,993 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new stake in shares of American Battery Technology in the second quarter valued at $120,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen cut American Battery Technology from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Weiss Ratings reiterated 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, According to MarketBeat, the company currently has a consensus rating of “Sell”.

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.