American Battery Technology Company (NASDAQ:ABAT) Short Interest Down 38.1% in September

Key Points

• American Battery Technology Company's short interest decreased by 38.1% in September, totaling 7,480,000 shares as of September 30th.
• The stock is currently priced at $6.10, representing a 9.2% decline, with a market capitalization of $720.11 million.
• Analysts have generally issued a consensus rating of "Sell" for American Battery Technology, reflecting concerns over the company's financial performance and negative return on equity.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 7,480,000 shares, a decline of 38.1% from the September 15th total of 12,090,000 shares. Based on an average trading volume of 8,100,000 shares, the days-to-cover ratio is currently 0.9 days. Approximately 6.6% of the shares of the company are short sold. Approximately 6.6% of the shares of the company are short sold. Based on an average trading volume of 8,100,000 shares, the days-to-cover ratio is currently 0.9 days.

American Battery Technology Stock Down 9.2%

Shares of American Battery Technology stock opened at $6.10 on Wednesday. The stock's fifty day moving average is $4.00 and its 200-day moving average is $2.44. The firm has a market capitalization of $720.11 million, a PE ratio of -10.34 and a beta of -1.64. American Battery Technology has a 12-month low of $0.73 and a 12-month high of $11.49.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last posted its quarterly earnings results on Thursday, September 18th. The company reported ($0.10) earnings per share for the quarter. The business had revenue of $2.78 million for the quarter. American Battery Technology had a negative net margin of 1,090.07% and a negative return on equity of 67.35%.

Analyst Ratings Changes

A number of research analysts have issued reports on ABAT shares. Weiss Ratings restated a "sell (e+)" rating on shares of American Battery Technology in a report on Tuesday, October 14th. Wall Street Zen lowered American Battery Technology from a "hold" rating to a "sell" rating in a report on Sunday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, American Battery Technology currently has a consensus rating of "Sell".

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new position in American Battery Technology in the first quarter valued at about $144,000. Goldman Sachs Group Inc. purchased a new position in American Battery Technology in the first quarter valued at about $27,000. Charles Schwab Investment Management Inc. purchased a new position in American Battery Technology in the first quarter valued at about $71,000. Thrivent Financial for Lutherans purchased a new position in American Battery Technology in the second quarter valued at about $50,000. Finally, Bank of America Corp DE grew its stake in American Battery Technology by 2,724.5% in the second quarter. Bank of America Corp DE now owns 26,183 shares of the company's stock valued at $42,000 after purchasing an additional 25,256 shares in the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

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.

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