American Battery Technology (NASDAQ:ABAT) Sees Strong Trading Volume - Time to Buy?

Key Points

• American Battery Technology (NASDAQ:ABAT) experienced a 19% increase in trading volume, with 4.8 million shares exchanged, reflecting heightened investor interest.
• Wall Street analysts have a consensus "Sell" rating on ABAT, with some firms like Weiss Ratings and Wall Street Zen recently downgrading their ratings.
• The company's latest quarterly report indicated a negative earnings per share of ($0.10) alongside a revenue of $2.78 million, underscoring its struggles in profitability.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report) shares saw an uptick in trading volume on Thursday . 4,835,761 shares were traded during mid-day trading, an increase of 19% from the previous session's volume of 4,078,286 shares.The stock last traded at $6.15 and had previously closed at $5.98.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABAT. Weiss Ratings reissued a "sell (d-)" rating on shares of American Battery Technology in a research note on Saturday, September 27th. Wall Street Zen cut American Battery Technology from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

American Battery Technology Price Performance

The company has a market capitalization of $736.63 million, a price-to-earnings ratio of -10.58 and a beta of -1.64. The firm has a 50-day moving average price of $3.09 and a two-hundred day moving average price of $2.04.

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 for the quarter. The firm had revenue of $2.78 million for 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 institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of American Battery Technology by 113.8% during the second quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company's stock worth $3,136,000 after buying an additional 1,030,323 shares during the period. Chico Wealth RIA acquired a new position in American Battery Technology during the first quarter valued at approximately $206,000. XTX Topco Ltd acquired a new position in American Battery Technology during the first quarter valued at approximately $144,000. Tcfg Wealth Management LLC acquired a new position in American Battery Technology during the first quarter valued at approximately $96,000. Finally, New York State Common Retirement Fund acquired a new position in American Battery Technology during the second quarter valued at approximately $120,000. 9.88% of the stock is owned by institutional investors and hedge funds.

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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