American Battery Technology (NASDAQ:ABAT) Stock Rating Upgraded by Wall Street Zen

Key Points

• American Battery Technology (NASDAQ:ABAT) has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a change in analysts' outlook on the stock.
• The stock price saw an increase of 8.2%, with current trading at $6.75, and it has a market cap of $796.84 million.
• Despite the upgrade, Weiss Ratings has restated a "sell (d-)" rating, signaling a mixed evaluation of the company's performance among different analysts.

American Battery Technology (NASDAQ:ABAT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of American Battery Technology in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of "Sell".

American Battery Technology Stock Up 8.2%

Shares of ABAT opened at $6.75 on Friday. The business's 50 day moving average is $3.26 and its two-hundred day moving average is $2.12. American Battery Technology has a 52-week low of $0.73 and a 52-week high of $7.34. The firm has a market cap of $796.84 million, a price-to-earnings ratio of -11.44 and a beta of -1.64.

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 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

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in 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 worth $3,136,000 after purchasing an additional 1,030,323 shares in the last quarter. Chico Wealth RIA purchased a new position in American Battery Technology in the 1st quarter worth about $206,000. XTX Topco Ltd purchased a new position in American Battery Technology in the 1st quarter worth about $144,000. Tcfg Wealth Management LLC purchased a new position in American Battery Technology in the 1st quarter worth about $96,000. Finally, New York State Common Retirement Fund purchased a new position in American Battery Technology in the 2nd quarter worth about $120,000. 9.88% of the stock is owned by institutional investors and hedge funds.

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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