American Battery Technology (NASDAQ:ABAT) Trading Up 10.2% – Still a Buy?

American Battery Technology Company (NASDAQ:ABAT) shares rose 10.2% during mid-day trading on Wednesday . The stock traded as high as $4.22 and last traded at $4.0650. Approximately 3,523,489 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 5,864,826 shares. The stock had previously closed at $3.69.

Analyst Upgrades and Downgrades

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

American Battery Technology Stock Down 4.0%

The company has a market capitalization of $438.00 million, a PE ratio of -6.61 and a beta of -1.64. The business has a 50 day simple moving average of $4.87 and a 200 day simple moving average of $2.95.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in shares of American Battery Technology during the first quarter valued at $144,000. Charles Schwab Investment Management Inc. acquired a new stake in American Battery Technology during the 1st quarter worth about $71,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in American Battery Technology during the 1st quarter worth about $58,000. Goldman Sachs Group Inc. purchased a new stake in American Battery Technology during the 1st quarter valued at about $27,000. Finally, ProShare Advisors LLC acquired a new position in shares of American Battery Technology in the second quarter valued at about $27,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.