American Battery Technology (NASDAQ:ABAT) Trading Down 6.9% - Should You Sell?

Key Points

• Shares fell 6.9% to $3.08 on Wednesday, with about 4.84 million shares traded (roughly in line with average); the 50‑day and 200‑day moving averages are $3.20 and $4.02 respectively and market cap is about $405.7M.
• Analyst coverage is mixed: Maxim Group initiated a Buy with a $6 target while Wall Street Zen downgraded to Sell, leaving a consensus rating of Hold and an average target of $6.00.
• Fundamentals remain weak—quarterly EPS was -$0.07 with a negative net margin of 436.31% and negative ROE of 46.98%—while the company focuses on domestic lithium extraction and battery recycling (including Clayton Valley claims).

American Battery Technology Company (NASDAQ:ABAT - Get Free Report) shares dropped 6.9% on Wednesday . The company traded as low as $3.06 and last traded at $3.08. Approximately 4,840,238 shares were traded during trading, an increase of 1% from the average daily volume of 4,798,056 shares. The stock had previously closed at $3.31.

Analyst Upgrades and Downgrades

ABAT has been the topic of a number of research reports. Maxim Group initiated coverage on shares of American Battery Technology in a report on Tuesday. They set a "buy" rating and a $6.00 target price on the stock. Wall Street Zen lowered shares of American Battery Technology from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.00.

American Battery Technology Stock Performance

The stock's 50 day moving average price is $3.20 and its 200 day moving average price is $4.02. The company has a market capitalization of $405.66 million, a P/E ratio of -7.70 and a beta of -0.52.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.07) EPS for the quarter. American Battery Technology had a negative net margin of 436.31% and a negative return on equity of 46.98%. The firm had revenue of $4.76 million during the quarter.

Institutional Investors Weigh In On American Battery Technology

Institutional investors have recently modified their holdings of the company. Synergy Investment Management LLC bought a new stake in shares of American Battery Technology in the 4th quarter valued at $100,000. Arizona State Retirement System acquired a new position in shares of American Battery Technology during the 4th quarter valued at $111,000. Pictet Asset Management Holding SA acquired a new position in shares of American Battery Technology during the 4th quarter valued at $42,000. Apollon Wealth Management LLC acquired a new position in shares of American Battery Technology during the 4th quarter valued at $53,000. Finally, SG Americas Securities LLC acquired a new position in shares of American Battery Technology during the 4th quarter valued at $74,000. 9.88% of the stock is owned by institutional investors.

American Battery Technology Company Profile

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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