American Battery Technology (NASDAQ:ABAT) Shares Up 16.4% – Should You Buy?

American Battery Technology Company (NASDAQ:ABAT)’s share price rose 16.4% during trading on Friday . The stock traded as high as $4.31 and last traded at $4.2950. Approximately 11,065,815 shares were traded during trading, an increase of 90% from the average daily volume of 5,813,174 shares. The stock had previously closed at $3.69.

Analyst Ratings Changes

A number of research firms recently weighed in on ABAT. Wall Street Zen lowered shares of American Battery Technology from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Weiss Ratings restated a “sell (e+)” rating on shares of American Battery Technology in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

American Battery Technology Price Performance

The stock’s 50-day moving average is $4.58 and its 200 day moving average is $2.77. The company has a market cap of $524.73 million, a PE ratio of -7.51 and a beta of -1.64.

American Battery Technology (NASDAQ:ABAT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.09) EPS for the quarter. The business had revenue of $0.94 million for the quarter. American Battery Technology had a negative net margin of 1,090.07% and a negative return on equity of 67.35%.

Institutional Investors Weigh In On American Battery Technology

A number of large investors have recently modified their holdings of the business. Gladstone Institutional Advisory LLC acquired a new position in shares of American Battery Technology during the third quarter valued at about $52,000. Harbour Capital Advisors LLC purchased a new stake in American Battery Technology during the 3rd quarter worth approximately $71,000. ProShare Advisors LLC acquired a new position in American Battery Technology during the 2nd quarter valued at approximately $27,000. Creative Planning raised its holdings in shares of American Battery Technology by 35.8% in the second quarter. Creative Planning now owns 18,958 shares of the company’s stock worth $31,000 after buying an additional 5,000 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of American Battery Technology during the second quarter worth $36,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.