Insider Selling: American Battery Technology (NASDAQ:ABAT) Director Sells 21,360 Shares

American Battery Technology Company (NASDAQ:ABAT) Director Susan Lee sold 21,360 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $2.16, for a total value of $46,137.60. Following the completion of the sale, the director directly owned 170,840 shares in the company, valued at $369,014.40. This represents a 11.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

American Battery Technology Price Performance

Shares of American Battery Technology stock traded up $0.12 during trading on Thursday, hitting $2.24. The stock had a trading volume of 3,149,861 shares, compared to its average volume of 4,952,695. The business has a fifty day moving average of $2.46 and a two-hundred day moving average of $2.91. American Battery Technology Company has a fifty-two week low of $2.00 and a fifty-two week high of $11.49. The firm has a market cap of $319.38 million, a P/E ratio of -3.93 and a beta of 0.32.

American Battery Technology (NASDAQ:ABAT) last issued its quarterly earnings results on Monday, September 14th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.10). American Battery Technology had a negative return on equity of 64.63% and a negative net margin of 337.50%.The business had revenue of $8.23 million during the quarter, compared to the consensus estimate of $8.20 million.

Hedge Funds Weigh In On American Battery Technology

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its position in shares of American Battery Technology by 23.4% in the first quarter. SG Americas Securities LLC now owns 27,517 shares of the company’s stock worth $77,000 after buying an additional 5,227 shares during the period. ProShare Advisors LLC raised its position in American Battery Technology by 36.4% during the fourth quarter. ProShare Advisors LLC now owns 20,676 shares of the company’s stock valued at $69,000 after buying an additional 5,514 shares during the period. Royal Bank of Canada raised its position in American Battery Technology by 167.4% during the first 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. Elyxium Wealth LLC purchased a new stake in American Battery Technology in the 4th quarter worth about $25,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in American Battery Technology in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

American Battery Technology Company Profile

American Battery Technology Company (NASDAQ: ABAT) is a U.S.-based battery materials company focused on producing and recycling lithium and other materials used in lithium-ion batteries. The company develops technologies intended to support a domestic, circular battery supply chain for electric vehicles, grid storage systems, consumer electronics and other applications.

Its business includes lithium-ion battery recycling, with processes designed to recover battery metals and produce battery-grade materials from end-of-life batteries and manufacturing scrap.