American Battery Technology (NASDAQ:ABAT) Stock Price Up 10.5% - What's Next?

Key Points

• American Battery Technology's stock price surged 10.5% to $6.21, despite a 20% decrease in trading volume compared to its average.
• Equities research analysts have largely rated the stock as a Sell, with Weiss Ratings restating a "sell (e+)" rating and Wall Street Zen downgrading it from "hold" to "sell".
• The company reported a negative net margin of 1,090.07% and a negative return on equity of 67.35% in its latest earnings report, highlighting ongoing financial challenges.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report)'s stock price shot up 10.5% on Friday . The company traded as high as $6.49 and last traded at $6.21. 4,481,614 shares changed hands during trading, a decline of 20% from the average session volume of 5,613,987 shares. The stock had previously closed at $5.62.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ABAT shares. Weiss Ratings restated a "sell (e+)" rating on shares of American Battery Technology in a report on Tuesday, October 14th. Wall Street Zen downgraded American Battery Technology from a "hold" rating to a "sell" rating in a research note on Sunday, October 19th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of "Sell".

American Battery Technology Stock Up 8.8%

The company has a market capitalization of $721.88 million, a PE ratio of -10.38 and a beta of -1.64. The stock has a 50-day moving average of $4.13 and a 200 day moving average of $2.50.

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

Hedge Funds Weigh In On American Battery Technology

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of American Battery Technology by 113.8% in the second quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company's stock worth $3,136,000 after purchasing an additional 1,030,323 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of American Battery Technology in the first quarter worth about $144,000. New York State Common Retirement Fund purchased a new position in shares of American Battery Technology in the second quarter worth about $120,000. Charles Schwab Investment Management Inc. purchased a new position in shares of American Battery Technology in the first quarter worth about $71,000. Finally, Osaic Holdings Inc. increased its stake in shares of American Battery Technology by 8.5% in the second quarter. Osaic Holdings Inc. now owns 57,541 shares of the company's stock worth $93,000 after purchasing an additional 4,502 shares in the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.