American Battery Technology (NASDAQ:ABAT) Stock Price Down 4% - Here's What Happened

Key Points

• American Battery Technology (NASDAQ:ABAT) shares fell about 4% to $3.925 on Wednesday (intraday low $3.94) on only ~1.26M shares traded—about a 79% decline from average volume—with a market cap near $515.3M.
• Analyst sentiment is negative: ABAT carries an average Sell rating after recent downgrades (Wall Street Zen cut to sell; Weiss Ratings reaffirmed sell).
• Fundamentals are weak—quarterly EPS of - $0.09, just $0.94M in revenue, a -902.7% net margin and -59.9% ROE—and company insiders (including the COO) have recently sold shares, modestly reducing their holdings.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report)'s stock price fell 4% during trading on Wednesday . The stock traded as low as $3.94 and last traded at $3.9250. 1,256,763 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 5,893,070 shares. The stock had previously closed at $4.09.

Wall Street Analyst Weigh In

ABAT has been the topic of several recent research reports. Wall Street Zen downgraded American Battery Technology from a "hold" rating to a "sell" rating in a report on Sunday, October 19th. Weiss Ratings restated a "sell (e+)" rating on shares of American Battery Technology in a research note on Monday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of "Sell".

American Battery Technology Trading Down 3.1%

The stock has a market capitalization of $515.33 million, a price-to-earnings ratio of -7.75 and a beta of -1.42. The company's 50 day moving average is $4.39 and its 200 day moving average is $3.37.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.09) 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%.

Insider Buying and Selling at American Battery Technology

In other American Battery Technology news, COO Steven Wu sold 12,333 shares of the business's stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $4.05, for a total value of $49,948.65. Following the transaction, the chief operating officer directly owned 286,236 shares of the company's stock, valued at approximately $1,159,255.80. The trade was a 4.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Jolcover sold 17,500 shares of the business's stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $3.88, for a total transaction of $67,900.00. Following the transaction, the insider owned 321,424 shares in the company, valued at approximately $1,247,125.12. This trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On American Battery Technology

Large investors have recently modified their holdings of the business. CIBC Bancorp USA Inc. purchased a new stake in shares of American Battery Technology in the third quarter valued at approximately $97,000. Revere Asset Management Inc acquired a new position in shares of American Battery Technology during the 3rd quarter worth $61,000. NewEdge Advisors LLC increased its holdings in shares of American Battery Technology by 5,208.7% in the 3rd quarter. NewEdge Advisors LLC now owns 35,409 shares of the company's stock valued at $172,000 after purchasing an additional 34,742 shares in the last quarter. United Capital Financial Advisors LLC acquired a new stake in shares of American Battery Technology in the third quarter valued at about $61,000. Finally, Scientech Research LLC purchased a new stake in shares of American Battery Technology during the 3rd quarter worth approximately $785,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

About American Battery Technology

American Battery Technology Company NASDAQ: ABAT is a U.S.-based company focused on developing domestic supply chain solutions for critical battery metals. The company's core activities span from exploration and extraction of lithium resources to the design and operation of recycling facilities targeted at end-of-life batteries and manufacturing scrap. By integrating upstream resource development with downstream recycling, ABAT aims to create a closed-loop system that bolsters North American battery manufacturing.

On the resource side, American Battery Technology holds lithium claystone claims in Nevada's Clayton Valley and is advancing a pilot direct-extraction facility designed to recover lithium and other valuable metals from brines.

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