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

Key Points

• American Battery Technology's stock price reached a new 52-week high of $9.06, significantly up from a previous close of $6.75, with a trading volume of over 5.3 million shares.
• Analyst ratings have been mixed, with Weiss Ratings maintaining a "sell" rating, while Wall Street Zen upgraded the stock to a "hold" rating; the overall consensus remains a "sell."
• The company's latest quarterly earnings report showed a loss of ($0.10) EPS and a negative net margin of 1,090.07%, as revenue was reported at $2.78 million.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $8.79 and last traded at $9.06, with a volume of 5394439 shares traded. The stock had previously closed at $6.75.

Analyst Ratings Changes

ABAT has been the topic of several recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of American Battery Technology in a research note on Saturday, September 27th. Wall Street Zen raised shares of American Battery Technology from a "sell" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of "Sell".

American Battery Technology Stock Up 40.9%

The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -17.00 and a beta of -1.64. The company's fifty day simple moving average is $3.26 and its 200 day simple moving average is $2.13.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ABAT. Geode Capital Management LLC boosted its stake in shares of American Battery Technology by 113.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company's stock valued at $3,136,000 after purchasing an additional 1,030,323 shares during the last quarter. Chico Wealth RIA acquired a new stake in shares of American Battery Technology during the 1st quarter worth approximately $206,000. XTX Topco Ltd acquired a new stake in shares of American Battery Technology during the 1st quarter worth approximately $144,000. Tcfg Wealth Management LLC acquired a new stake in shares of American Battery Technology during the 1st quarter worth approximately $96,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of American Battery Technology during the 2nd quarter worth approximately $120,000. 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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