Investors Purchase Large Volume of American Battery Technology Call Options (NASDAQ:ABAT)

American Battery Technology (NASDAQ:ABAT) was the target of some unusual options trading on Tuesday. Traders bought 4,707 call options on the stock. This represents an increase of approximately 1,760% compared to the average volume of 253 call options.

Hedge Funds Weigh In On American Battery Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABAT. Dopkins Wealth Management LLC lifted its stake in shares of American Battery Technology by 76.5% during the 3rd quarter. Dopkins Wealth Management LLC now owns 50,000 shares of the company’s stock valued at $54,000 after buying an additional 21,664 shares in the last quarter. Geode Capital Management LLC raised its holdings in American Battery Technology by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 645,063 shares of the company’s stock valued at $690,000 after acquiring an additional 40,169 shares during the period. Finally, State Street Corp lifted its position in shares of American Battery Technology by 26.9% during the third quarter. State Street Corp now owns 204,200 shares of the company’s stock worth $218,000 after acquiring an additional 43,300 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

American Battery Technology Stock Performance

NASDAQ ABAT traded up $0.69 on Tuesday, hitting $2.47. 17,990,462 shares of the stock traded hands, compared to its average volume of 994,768. The business’s fifty day moving average is $0.97 and its two-hundred day moving average is $1.02. American Battery Technology has a 12 month low of $0.73 and a 12 month high of $5.55. The firm has a market capitalization of $188.94 million, a price-to-earnings ratio of -2.52 and a beta of 2.16.

American Battery Technology (NASDAQ:ABAT) last posted its quarterly earnings results on Monday, September 23rd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.11). The firm had revenue of $0.34 million during the quarter, compared to the consensus estimate of $5.00 million.

About American Battery Technology

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.