Dimensional Fund Advisors LP Has $1.79 Million Stake in American Battery Technology Company $ABAT

Dimensional Fund Advisors LP raised its stake in shares of American Battery Technology Company (NASDAQ:ABAT) by 352.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 644,381 shares of the company’s stock after acquiring an additional 501,919 shares during the quarter. Dimensional Fund Advisors LP’s holdings in American Battery Technology were worth $1,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Elyxium Wealth LLC bought a new stake in shares of American Battery Technology during the 4th quarter worth about $25,000. Goldman Sachs Group Inc. acquired a new position in shares of American Battery Technology during the 1st quarter valued at about $27,000. Creative Planning raised its stake in shares of American Battery Technology by 35.8% in the 2nd quarter. Creative Planning now owns 18,958 shares of the company’s stock valued at $31,000 after acquiring an additional 5,000 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of American Battery Technology by 67.2% in the 2nd quarter. Cetera Investment Advisers now owns 22,117 shares of the company’s stock valued at $36,000 after acquiring an additional 8,886 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of American Battery Technology in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

American Battery Technology Price Performance

ABAT stock opened at $2.51 on Friday. American Battery Technology Company has a 52-week low of $2.00 and a 52-week high of $11.49. The company has a 50-day moving average of $2.68 and a two-hundred day moving average of $3.15. The stock has a market capitalization of $342.39 million, a price-to-earnings ratio of -4.83 and a beta of 0.27.

American Battery Technology (NASDAQ:ABAT) last issued its quarterly earnings results 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). The business had revenue of $7.81 million during the quarter, compared to analyst estimates of $3.70 million. American Battery Technology had a negative net margin of 390.48% and a negative return on equity of 63.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen cut American Battery Technology from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Maxim Group assumed coverage on shares of American Battery Technology in a research report on Tuesday, April 28th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, Weiss Ratings raised shares of American Battery Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. One equities 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, American Battery Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

Insider Buying and Selling at American Battery Technology

In related news, COO Steven Wu sold 115,480 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.56, for a total transaction of $411,108.80. Following the completion of the sale, the chief operating officer owned 342,695 shares in the company, valued at $1,219,994.20. This represents a 25.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

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.