American Battery Technology (NASDAQ:ABAT) Issues Quarterly Earnings Results

Key Points

• American Battery Technology reported a quarterly loss of $0.15 per share. The company posted a negative 63.85% return on equity and a negative 390.48% net margin.
• ABAT shares opened at $2.47, near the 50-day moving average of $2.49, with a market capitalization of approximately $336.9 million. The stock has traded between $2.00 and $11.49 over the past year.
• Analyst sentiment is mixed, though MarketBeat lists a consensus rating of “Moderate Buy” and an average price target of $6.00; hedge funds and other institutional investors own 9.88% of the company.

American Battery Technology (NASDAQ:ABAT - Get Free Report) posted its quarterly earnings results on Monday. The company reported ($0.15) EPS for the quarter, Zacks reports. American Battery Technology had a negative return on equity of 63.85% and a negative net margin of 390.48%.

American Battery Technology Price Performance

Shares of ABAT stock opened at $2.47 on Monday. The business's 50 day simple moving average is $2.49 and its 200 day simple moving average is $2.95. The stock has a market capitalization of $336.93 million, a PE ratio of -4.75 and a beta of 0.32. American Battery Technology has a one year low of $2.00 and a one year high of $11.49.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised American Battery Technology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $6.00.

Hedge Funds Weigh In On American Battery Technology

A number of hedge funds have recently bought and sold shares of ABAT. Police & Firemen s Retirement System of New Jersey boosted its holdings in American Battery Technology by 8.9% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 32,455 shares of the company's stock worth $108,000 after buying an additional 2,666 shares during the period. Deutsche Bank AG raised its holdings in American Battery Technology by 4.3% during the 4th quarter. Deutsche Bank AG now owns 80,147 shares of the company's stock valued at $268,000 after acquiring an additional 3,305 shares during the period. Osaic Holdings Inc. raised its holdings in American Battery Technology by 8.5% during the 2nd quarter. Osaic Holdings Inc. now owns 57,541 shares of the company's stock valued at $93,000 after acquiring an additional 4,502 shares during the period. Creative Planning lifted its position in shares of American Battery Technology by 35.8% during the second quarter. Creative Planning now owns 18,958 shares of the company's stock worth $31,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Mariner LLC lifted its position in shares of American Battery Technology by 19.6% during the fourth quarter. Mariner LLC now owns 30,482 shares of the company's stock worth $102,000 after acquiring an additional 5,000 shares in the last quarter. 9.88% of the stock is owned by hedge funds and other 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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