American Battery Technology (NASDAQ:ABAT) Downgraded to Sell Rating by Wall Street Zen

Key Points

• American Battery Technology has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen and also received a "sell (d-)" rating from Weiss Ratings.
• The company's stock price recently fell by 2.6% to $4.88, with a market capitalization of $576.08 million and a concerning PE ratio of -8.27.
• American Battery Technology reported a negative earnings per share of ($0.10) for the last quarter, with a severely negative net margin of 1,090.07%.

American Battery Technology (NASDAQ:ABAT - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of American Battery Technology in a research note on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell".

American Battery Technology Stock Down 2.6%

NASDAQ ABAT traded down $0.13 during trading hours on Friday, hitting $4.88. 18,055,772 shares of the company were exchanged, compared to its average volume of 9,707,003. The stock has a 50-day moving average price of $2.90 and a 200 day moving average price of $1.95. American Battery Technology has a 52 week low of $0.73 and a 52 week high of $5.49. The stock has a market cap of $576.08 million, a PE ratio of -8.27 and a beta of -1.64.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. ProShare Advisors LLC bought a new position in shares of American Battery Technology during the second quarter valued at approximately $27,000. Goldman Sachs Group Inc. purchased a new stake in shares of American Battery Technology in the first quarter valued at approximately $27,000. Creative Planning boosted its holdings in shares of American Battery Technology by 35.8% in 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. Squarepoint Ops LLC purchased a new stake in shares of American Battery Technology in the fourth quarter valued at approximately $32,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of American Battery Technology in the second quarter valued at approximately $36,000. 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.

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