American Battery Technology (NASDAQ:ABAT) Rating Lowered to Sell at Wall Street Zen

Wall Street Zen downgraded shares of American Battery Technology (NASDAQ:ABAT) from a hold rating to a sell rating in a research report report published on Friday morning.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of American Battery Technology in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

American Battery Technology Stock Down 2.6%

NASDAQ ABAT opened at $4.88 on Friday. The firm has a market capitalization of $576.08 million, a PE ratio of -8.27 and a beta of -1.64. The stock’s 50 day moving average is $2.90 and its 200 day moving average is $1.96. American Battery Technology has a twelve month low of $0.73 and a twelve month high of $5.49.

American Battery Technology (NASDAQ:ABAT) last announced its quarterly earnings data on Thursday, September 18th. The company reported ($0.10) EPS for the quarter. American Battery Technology had a negative net margin of 1,090.07% and a negative return on equity of 67.35%. The firm had revenue of $2.78 million for the quarter.

Hedge Funds Weigh In On American Battery Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. boosted its holdings in shares of American Battery Technology by 8.5% during the 2nd quarter. Osaic Holdings Inc. now owns 57,541 shares of the company’s stock valued at $93,000 after acquiring an additional 4,502 shares during the last quarter. Creative Planning lifted its position in American Battery Technology by 35.8% during the second quarter. Creative Planning now owns 18,958 shares of the company’s stock valued at $31,000 after purchasing an additional 5,000 shares during the period. Cetera Investment Advisers boosted its holdings in American Battery Technology by 67.2% in the second quarter. Cetera Investment Advisers now owns 22,117 shares of the company’s stock worth $36,000 after purchasing an additional 8,886 shares during the last quarter. Two Sigma Investments LP boosted its holdings in American Battery Technology by 39.8% in the fourth quarter. Two Sigma Investments LP now owns 37,750 shares of the company’s stock worth $93,000 after purchasing an additional 10,756 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in American Battery Technology in the 4th quarter worth approximately $32,000. 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.