American Battery Technology (NASDAQ:ABAT) Given Sell (E+) Rating at Weiss Ratings

Key Points

• American Battery Technology's stock has been given a "sell (E+)" rating by Weiss Ratings, reaffirming a negative outlook from analysts.
• Despite the downgrade, the stock price increased by 12.1% to $10.33 during recent trading, with a significant trading volume of over 24 million shares.
• The company reported a loss of ($0.10) earnings per share for the last quarter, alongside a negative return on equity of 67.35% and a net margin of 1,090.07%.

American Battery Technology (NASDAQ:ABAT - Get Free Report)'s stock had its "sell (e+)" rating reiterated by research analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded American Battery Technology from a "sell" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, American Battery Technology currently has an average rating of "Sell".

American Battery Technology Trading Up 12.1%

ABAT traded up $1.11 during trading on Tuesday, reaching $10.33. The stock had a trading volume of 24,414,441 shares, compared to its average volume of 4,553,147. The stock's 50 day moving average is $3.40 and its two-hundred day moving average is $2.19. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -17.40 and a beta of -1.64. American Battery Technology has a one year low of $0.73 and a one year high of $10.25.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABAT. ProShare Advisors LLC bought a new position in shares of American Battery Technology during the 2nd quarter valued at approximately $27,000. Goldman Sachs Group Inc. bought a new stake in shares of American Battery Technology in the 1st quarter valued at about $27,000. Creative Planning raised its stake in American Battery Technology by 35.8% in the second quarter. Creative Planning now owns 18,958 shares of the company's stock worth $31,000 after buying an additional 5,000 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of American Battery Technology in the 2nd quarter worth $36,000. Finally, Cetera Investment Advisers increased its position in shares of American Battery Technology by 67.2% during 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 in the last quarter. 9.88% of the stock is currently owned by institutional investors.

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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