American Battery Technology Sees Unusually High Options Volume (NASDAQ:ABAT)

American Battery Technology Company (NASDAQ:ABAT) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 6,342 call options on the company. This represents an increase of approximately 116% compared to the average volume of 2,941 call options.

Insider Buying and Selling

In other American Battery Technology news, COO Steven Wu sold 115,480 shares of the business’s stock in a transaction 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 approximately $1,219,994.20. The trade was a 25.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ABAT. Elyxium Wealth LLC purchased a new stake in shares of American Battery Technology in the fourth quarter worth about $25,000. Russell Investments Group Ltd. purchased a new stake in shares of American Battery Technology during the 3rd quarter valued at about $45,000. Royal Bank of Canada raised its holdings in shares of American Battery Technology by 167.4% during the 1st quarter. Royal Bank of Canada now owns 10,133 shares of the company’s stock valued at $28,000 after buying an additional 6,344 shares during the period. Atom Investors LP acquired a new position in American Battery Technology during the 4th quarter worth approximately $38,000. Finally, NorthRock Partners LLC purchased a new position in American Battery Technology in the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

Wall Street Analysts Forecast Growth

ABAT has been the subject of several analyst reports. Wall Street Zen lowered American Battery Technology from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Maxim Group initiated coverage on shares of American Battery Technology in a research note on Tuesday, April 28th. They set a “buy” rating and a $6.00 price objective for the company. Finally, Weiss Ratings upgraded shares of American Battery Technology from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.00.

American Battery Technology Price Performance

NASDAQ ABAT traded down $0.01 during mid-day trading on Tuesday, hitting $2.63. The company’s stock had a trading volume of 899,384 shares, compared to its average volume of 5,230,146. The firm has a market capitalization of $359.44 million, a P/E ratio of -5.07 and a beta of 0.27. American Battery Technology has a 52-week low of $2.00 and a 52-week high of $11.49. The stock’s fifty day simple moving average is $2.75 and its two-hundred day simple moving average is $3.20.

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

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.