American Battery Technology (NASDAQ:ABAT) Shares Up 10.2% - What's Next?

Key Points

• Shares of American Battery Technology jumped 10.2% intraday to a high of $4.22 and last traded at $4.065, on volume of about 3.52 million shares (roughly 40% below average).
• Analyst sentiment is negative: Wall Street Zen recently downgraded the stock and Weiss Ratings reaffirmed a "sell" call, leaving the company with an average rating of "Sell".
• The company shows weak fundamentals with a $527M market cap, reported EPS of ($0.09) and just $0.94M in quarterly revenue, plus very negative ROE and net margin (−59.93% and −902.69%, respectively).

American Battery Technology Company (NASDAQ:ABAT - Get Free Report)'s share price shot up 10.2% during trading on Wednesday . The stock traded as high as $4.22 and last traded at $4.0650. 3,523,489 shares traded hands during trading, a decline of 40% from the average session volume of 5,864,826 shares. The stock had previously closed at $3.69.

Analyst Ratings Changes

Several research analysts recently issued reports on ABAT shares. Wall Street Zen downgraded shares of American Battery Technology from a "hold" rating to a "sell" rating in a research report on Sunday, October 19th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of American Battery Technology in a research note on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of "Sell".

American Battery Technology Price Performance

The firm has a market cap of $527.03 million, a price-to-earnings ratio of -7.93 and a beta of -1.64. The stock has a 50-day moving average of $4.81 and a 200-day moving average of $2.94.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $0.94 million for the quarter. American Battery Technology had a negative return on equity of 59.93% and a negative net margin of 902.69%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC purchased a new stake in shares of American Battery Technology in the second quarter valued at about $27,000. Goldman Sachs Group Inc. bought a new position in shares of American Battery Technology in the first quarter valued at approximately $27,000. Creative Planning increased its position in shares of 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 during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in American Battery Technology in the second quarter worth $36,000. Finally, Cetera Investment Advisers boosted its stake in American Battery Technology by 67.2% in the 2nd quarter. Cetera Investment Advisers now owns 22,117 shares of the company's stock worth $36,000 after purchasing an additional 8,886 shares during the period. Hedge funds and other institutional investors own 9.88% of the company's stock.

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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