American Battery Technology Target of Unusually High Options Trading (NASDAQ:ABAT)

Key Points

• American Battery Technology Company experienced a significant increase in options trading, with 8,412 call options traded, marking a 122% rise from the average volume.
• The company's stock price rose to $4.97, with a trading volume of 7,599,120 shares, significantly above its average of 3,408,045 shares.
• Wall Street analysts have upgraded the stock rating from "sell" to "hold", indicating a more favorable outlook for investors.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 8,412 call options on the stock. This is an increase of approximately 122% compared to the average volume of 3,795 call options.

American Battery Technology Stock Performance

Shares of ABAT traded up $0.84 on Wednesday, hitting $4.97. 7,599,120 shares of the stock traded hands, compared to its average volume of 3,408,045. The company has a market capitalization of $457.06 million, a PE ratio of -8.40 and a beta of -2.19. The business has a 50 day simple moving average of $2.56 and a 200 day simple moving average of $1.74. American Battery Technology has a one year low of $0.73 and a one year high of $5.07.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its stake in American Battery Technology by 49.3% in the 4th quarter. Northern Trust Corp now owns 131,742 shares of the company's stock worth $324,000 after purchasing an additional 43,478 shares in the last quarter. Two Sigma Investments LP grew its stake in American Battery Technology by 39.8% in the 4th quarter. Two Sigma Investments LP now owns 37,750 shares of the company's stock worth $93,000 after acquiring an additional 10,756 shares in the last quarter. Squarepoint Ops LLC bought a new position in American Battery Technology in the 4th quarter worth about $32,000. Focus Partners Advisor Solutions LLC bought a new position in American Battery Technology in the 4th quarter worth about $123,000. Finally, Tcfg Wealth Management LLC bought a new position in American Battery Technology in the 1st quarter worth about $96,000. Institutional investors own 9.88% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of American Battery Technology from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th.

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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