American Battery Technology (NASDAQ:ABAT) Stock Price Down 4% – Should You Sell?

by · The Markets Daily

American Battery Technology Company (NASDAQ:ABATGet Free Report)’s share price was down 4% during trading on Wednesday . The stock traded as low as $3.94 and last traded at $3.9250. Approximately 1,256,763 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 5,893,070 shares. The stock had previously closed at $4.09.

Wall Street Analyst Weigh In

ABAT has been the topic of several research reports. Wall Street Zen lowered shares of American Battery Technology from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of American Battery Technology in a report on Monday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Get Our Latest Stock Analysis on American Battery Technology

American Battery Technology Stock Down 3.1%

The company’s fifty day moving average is $4.39 and its 200 day moving average is $3.37. The stock has a market cap of $515.33 million, a PE ratio of -7.75 and a beta of -1.42.

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

Insider Activity

In related news, COO Steven Wu sold 12,333 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $4.05, for a total value of $49,948.65. Following the completion of the transaction, the chief operating officer owned 286,236 shares of the company’s stock, valued at approximately $1,159,255.80. This represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Scott Jolcover sold 17,500 shares of the firm’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 sale, the insider owned 321,424 shares of the company’s stock, valued at approximately $1,247,125.12. This trade represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. bought a new position in shares of American Battery Technology during the first quarter valued at approximately $27,000. ProShare Advisors LLC acquired a new position in American Battery Technology during the second quarter worth about $27,000. Creative Planning lifted its position in shares of American Battery Technology by 35.8% during the 2nd quarter. Creative Planning now owns 18,958 shares of the company’s stock valued at $31,000 after acquiring an additional 5,000 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of American Battery Technology by 67.2% in the 2nd quarter. Cetera Investment Advisers now owns 22,117 shares of the company’s stock valued at $36,000 after acquiring an additional 8,886 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in American Battery Technology during the 2nd quarter valued at $36,000. 9.88% of the stock is currently owned by institutional investors.

American Battery Technology Company Profile

(Get Free Report)

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.

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