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

American Battery Technology Company (NASDAQ:ABAT) rose 10.4% during trading on Tuesday . The stock traded as high as $4.90 and last traded at $4.8150. Approximately 3,818,694 shares traded hands during 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 research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of American Battery Technology in a research report on Monday, December 29th. Wall Street Zen downgraded American Battery Technology from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

American Battery Technology Stock Down 5.7%

The stock has a market capitalization of $561.47 million, a P/E ratio of -8.47 and a beta of -1.31. The company has a fifty day simple moving average of $4.16 and a two-hundred day simple moving average of $3.88.

American Battery Technology (NASDAQ:ABAT) last released its earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share for the quarter. American Battery Technology had a negative net margin of 902.69% and a negative return on equity of 59.93%. The business had revenue of $0.94 million during the quarter.

Insider Buying and Selling

In related news, COO Steven Wu sold 12,333 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $4.05, for a total value of $49,948.65. Following the sale, the chief operating officer directly owned 286,236 shares in the company, valued at $1,159,255.80. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott Jolcover sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $3.88, for a total value of $67,900.00. Following the completion of the transaction, the insider directly owned 321,424 shares in the company, valued at approximately $1,247,125.12. This trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of American Battery Technology

A number of hedge funds have recently bought and sold shares of ABAT. Millennium Management LLC grew its position in shares of 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 buying an additional 1,191,685 shares during the last quarter. Geode Capital Management LLC boosted its position 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 valued at $3,136,000 after buying an additional 1,030,323 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of American Battery Technology by 18.7% in the third quarter. Vanguard Group Inc. now owns 5,277,095 shares of the company’s stock worth $25,647,000 after acquiring an additional 829,609 shares during the period. Soviero Asset Management LP bought a new stake in shares of American Battery Technology in the third quarter worth $3,062,000. Finally, Raymond James Financial Inc. grew its position in American Battery Technology by 833.3% during the third quarter. Raymond James Financial Inc. now owns 396,125 shares of the company’s stock valued at $1,925,000 after buying an additional 353,681 shares during the period. Institutional investors 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.