American Battery Technology (NASDAQ:ABAT) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• American Battery Technology (NASDAQ:ABAT) experienced a significant increase in trading volume, with 8,842,504 shares traded, marking a 139% rise from the prior day.
• Wall Street Zen upgraded American Battery Technology's rating from "sell" to "hold" on July 26th, amidst ongoing changes in the market.
• The company's revenue for the last quarter was reported at $2.78 million, with a loss of ($0.10) earnings per share and a negative return on equity of 67.35%.

Shares of American Battery Technology Company (NASDAQ:ABAT - Get Free Report) saw an uptick in trading volume on Wednesday . 8,842,504 shares changed hands during trading, an increase of 139% from the previous session's volume of 3,703,400 shares.The stock last traded at $5.28 and had previously closed at $4.86.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised American Battery Technology from a "sell" rating to a "hold" rating in a report on Saturday, July 26th.

American Battery Technology Price Performance

The firm has a market cap of $617.03 million, a price-to-earnings ratio of -8.86 and a beta of -2.19. The firm has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $1.87.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $2.78 million during the quarter.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC purchased a new position in American Battery Technology during the second quarter valued at approximately $27,000. Goldman Sachs Group Inc. purchased a new position in American Battery Technology during the first quarter valued at approximately $27,000. Creative Planning raised its position in American Battery Technology by 35.8% during the second quarter. Creative Planning now owns 18,958 shares of the company's stock valued at $31,000 after acquiring an additional 5,000 shares in the last quarter. Squarepoint Ops LLC purchased a new position in American Battery Technology during the fourth quarter valued at approximately $32,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in American Battery Technology during the second quarter valued at approximately $36,000. 9.88% of the stock is currently owned by hedge funds and other 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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