American Battery Technology (NASDAQ:ABAT) Trading 10.4% Higher – Should You Buy?

American Battery Technology Company (NASDAQ:ABAT)’s share price was up 10.4% on Tuesday . The company traded as high as $4.90 and last traded at $4.8150. Approximately 3,818,694 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 7,883,273 shares. The stock had previously closed at $4.36.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ABAT shares. Wall Street Zen downgraded 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 note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

American Battery Technology Stock Up 8.9%

The firm has a 50 day moving average price of $4.11 and a 200 day moving average price of $3.85. The stock has a market cap of $617.36 million, a PE ratio of -9.31 and a beta of -1.31.

American Battery Technology (NASDAQ:ABAT) last announced its earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company 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 American Battery Technology news, COO Steven Wu sold 12,333 shares of the stock in a transaction dated 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 sale, the chief operating officer directly owned 286,236 shares in the company, valued at approximately $1,159,255.80. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Jolcover sold 17,500 shares of the company’s 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 transaction, the insider owned 321,424 shares in the company, valued at approximately $1,247,125.12. This trade represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ABAT. Millennium Management LLC raised its stake 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. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,030,323 shares during the period. Vanguard Group Inc. lifted its stake 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 acquiring an additional 829,609 shares during the period. Soviero Asset Management LP purchased a new position in shares of American Battery Technology during the third quarter worth $3,062,000. Finally, Raymond James Financial Inc. raised its holdings in shares of American Battery Technology by 833.3% during the third quarter. Raymond James Financial Inc. now owns 396,125 shares of the company’s stock worth $1,925,000 after purchasing an additional 353,681 shares during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

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.