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 approximately 8 million shares traded, marking a 46% rise from the previous session.
• Analysts have downgraded the stock from a "hold" to a "sell" rating, with a consensus rating of "Sell" according to MarketBeat.com.
• The company reported a quarterly revenue of $2.78 million and an EPS of ($0.10), alongside a negative net margin of 1,090.07%.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 8,014,187 shares changed hands during mid-day trading, an increase of 46% from the previous session's volume of 5,479,175 shares.The stock last traded at $6.29 and had previously closed at $6.72.

Wall Street Analyst Weigh In

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

American Battery Technology Price Performance

The company has a 50-day moving average price of $3.93 and a 200-day moving average price of $2.42. The firm has a market capitalization of $756.11 million, a PE ratio of -10.97 and a beta of -1.64.

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

Institutional Investors Weigh In On American Battery Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC acquired a new stake in American Battery Technology during the third quarter worth about $71,000. Osaic Holdings Inc. increased its stake in American Battery Technology by 8.5% during the second quarter. Osaic Holdings Inc. now owns 57,541 shares of the company's stock worth $93,000 after acquiring an additional 4,502 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in American Battery Technology during the second quarter worth about $50,000. Tower Research Capital LLC TRC increased its stake in American Battery Technology by 400.5% during the second quarter. Tower Research Capital LLC TRC now owns 33,411 shares of the company's stock worth $54,000 after acquiring an additional 26,736 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in American Battery Technology during the second quarter worth about $37,000. 9.88% of the stock is currently 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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