American Battery Technology (NASDAQ:ABAT) Sets New 1-Year High - Here's What Happened

Key Points

• American Battery Technology's stock reached a new 52-week high of $5.52 during trading on Monday, with a closing price of $5.07.
• Wall Street analysts have expressed bearish sentiments, with multiple firms issuing a "sell" rating, leading to an average rating of "Sell" for the stock.
• The company reported a significant negative net margin of 1,090.07% and a quarterly EPS of ($0.10), highlighting financial challenges despite its market cap of approximately $673.12 million.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $5.52 and last traded at $5.07, with a volume of 2351382 shares changing hands. The stock had previously closed at $4.88.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ABAT shares. Weiss Ratings reissued a "sell (d-)" rating on shares of American Battery Technology in a research report on Saturday, September 27th. Wall Street Zen downgraded American Battery Technology from a "hold" rating to a "sell" rating in a report on Friday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, American Battery Technology presently has an average rating of "Sell".

American Battery Technology Price Performance

The company has a market capitalization of $673.12 million, a P/E ratio of -9.68 and a beta of -1.64. The company's 50-day moving average price is $2.90 and its two-hundred day moving average price is $1.96.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last announced its quarterly earnings results on Thursday, September 18th. The company reported ($0.10) EPS for the quarter. The company 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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in shares of American Battery Technology in the first quarter valued at about $144,000. Chico Wealth RIA bought a new stake in American Battery Technology in the 1st quarter valued at about $206,000. Squarepoint Ops LLC acquired a new position in shares of American Battery Technology during the 4th quarter worth approximately $32,000. Two Sigma Investments LP increased its holdings in shares of American Battery Technology by 39.8% during the fourth quarter. Two Sigma Investments LP now owns 37,750 shares of the company's stock worth $93,000 after purchasing an additional 10,756 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of American Battery Technology in the first quarter valued at approximately $27,000. Institutional investors own 9.88% of the company's stock.

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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