American Battery Technology (NASDAQ:ABAT) Trading Down 10.3% - What's Next?

Key Points

• Shares of American Battery Technology (NASDAQ: ABAT) fell by 10.3%, trading as low as $4.92 before settling at $5.08 during mid-day trading, with a significantly increased trading volume of over 10 million shares.
• Recent analysts' reports show a mixed sentiment, with Weiss Ratings reaffirming a "sell" rating while Wall Street Zen upgraded it to a "hold," resulting in an overall average rating of "sell."
• The company reported a negative net margin of 1,090.07% and a loss per share of $0.10 with revenues of $2.78 million for the last quarter of earnings released.

Shares of American Battery Technology Company (NASDAQ:ABAT - Get Free Report) were down 10.3% during mid-day trading on Friday . The company traded as low as $4.92 and last traded at $5.08. Approximately 10,140,100 shares were traded during trading, an increase of 96% from the average daily volume of 5,166,841 shares. The stock had previously closed at $5.67.

Analyst Ratings Changes

ABAT has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of American Battery Technology in a research note on Tuesday. Wall Street Zen raised American Battery Technology from a "sell" rating to a "hold" rating in a report on Saturday, October 11th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, American Battery Technology presently has an average rating of "Sell".

American Battery Technology Trading Down 12.6%

The company has a market cap of $584.94 million, a PE ratio of -8.40 and a beta of -1.64. The business has a 50 day simple moving average of $3.79 and a two-hundred day simple moving average of $2.33.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last released its earnings results on Thursday, September 18th. The company reported ($0.10) 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 Investors Weigh In On American Battery Technology

Institutional investors have recently bought and sold shares of the stock. Harbour Capital Advisors LLC purchased a new position in American Battery Technology during the third quarter worth approximately $71,000. ProShare Advisors LLC acquired a new stake in shares of American Battery Technology during the 2nd quarter worth $27,000. Creative Planning increased its holdings in shares of American Battery Technology by 35.8% during the 2nd quarter. Creative Planning now owns 18,958 shares of the company's stock worth $31,000 after buying an additional 5,000 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of American Battery Technology during the 2nd quarter worth $36,000. Finally, Cetera Investment Advisers increased its stake in American Battery Technology by 67.2% during the second quarter. Cetera Investment Advisers now owns 22,117 shares of the company's stock worth $36,000 after acquiring an additional 8,886 shares during the last quarter. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

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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