American Battery Technology Company $ABAT Stake Raised by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its ABAT stake by 352.3% in the first quarter, bringing its holdings to 644,381 shares valued at approximately $1.79 million. Institutional investors collectively own 9.88% of the company.
• Analyst sentiment is mixed but averages a “Moderate Buy” rating, with a consensus target price of $6.00. Maxim Group initiated coverage with a Buy rating, while other services maintained Sell or Strong Sell views.
• ABAT shares opened at $2.51, near the lower end of their $2.00–$11.49 52-week range. The company reported a quarterly loss of $0.26 per share, missing estimates, despite revenue of $7.81 million exceeding expectations.

Dimensional Fund Advisors LP boosted its holdings in shares of American Battery Technology Company (NASDAQ:ABAT - Free Report) by 352.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 644,381 shares of the company's stock after acquiring an additional 501,919 shares during the quarter. Dimensional Fund Advisors LP owned 0.49% of American Battery Technology worth $1,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp increased its holdings in shares of American Battery Technology by 364.5% in the 4th quarter. State Street Corp now owns 7,529,560 shares of the company's stock valued at $25,149,000 after purchasing an additional 5,908,718 shares during the period. Vanguard Group Inc. boosted its holdings in shares of American Battery Technology by 18.7% during the third quarter. Vanguard Group Inc. now owns 5,277,095 shares of the company's stock worth $25,647,000 after purchasing an additional 829,609 shares during the period. Millennium Management LLC grew its position in American Battery Technology by 163.8% during the fourth quarter. Millennium Management LLC now owns 3,180,635 shares of the company's stock valued at $10,623,000 after purchasing an additional 1,975,021 shares in the last quarter. Geode Capital Management LLC grew its position in American Battery Technology by 37.2% during the fourth quarter. Geode Capital Management LLC now owns 2,829,415 shares of the company's stock valued at $9,453,000 after purchasing an additional 767,756 shares in the last quarter. Finally, Soviero Asset Management LP purchased a new position in American Battery Technology during the third quarter valued at approximately $3,062,000. Hedge funds and other institutional investors own 9.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ABAT shares. Maxim Group initiated coverage on shares of American Battery Technology in a research report on Tuesday, April 28th. They issued a "buy" rating and a $6.00 target price for the company. Weiss Ratings upgraded shares of American Battery Technology from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 29th. Finally, Wall Street Zen downgraded shares of American Battery Technology from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $6.00.

American Battery Technology Price Performance

Shares of American Battery Technology stock opened at $2.51 on Friday. The firm has a market cap of $342.39 million, a price-to-earnings ratio of -4.83 and a beta of 0.27. American Battery Technology Company has a 52-week low of $2.00 and a 52-week high of $11.49. The stock has a 50-day simple moving average of $2.68 and a 200-day simple moving average of $3.15.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The firm had revenue of $7.81 million during the quarter, compared to the consensus estimate of $3.70 million. American Battery Technology had a negative net margin of 390.48% and a negative return on equity of 63.85%.

Insider Transactions at American Battery Technology

In other American Battery Technology news, COO Steven Wu sold 115,480 shares of American Battery Technology stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.56, for a total value of $411,108.80. Following the completion of the sale, the chief operating officer directly owned 342,695 shares in the company, valued at $1,219,994.20. The trade was a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

About American Battery Technology

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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