Insider Selling: American Battery Technology (NASDAQ:ABAT) Director Sells 21,360 Shares

Key Points

• Director Susan Lee sold 21,360 American Battery Technology shares at an average price of $2.16, totaling $46,137.60. Her remaining 170,840 shares represent an 11.11% reduction in ownership.
• ABAT shares rose 5.7% to $2.24 during mid-day trading, but remain near their one-year low of $2.00 and well below the one-year high of $11.49.
• The company reported a quarterly loss of $0.15 per share, missing the $0.05 consensus estimate, while revenue of $8.23 million slightly exceeded expectations. Analysts’ consensus rating is “Moderate Buy,” with a $6.00 target price.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report) Director Susan Lee sold 21,360 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $2.16, for a total value of $46,137.60. Following the completion of the sale, the director directly owned 170,840 shares in the company, valued at $369,014.40. This represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

American Battery Technology Stock Up 5.7%

ABAT stock traded up $0.12 during mid-day trading on Thursday, reaching $2.24. The company had a trading volume of 3,149,861 shares, compared to its average volume of 4,952,695. The stock has a market capitalization of $319.38 million, a P/E ratio of -3.93 and a beta of 0.32. American Battery Technology Company has a one year low of $2.00 and a one year high of $11.49. The stock's 50-day simple moving average is $2.46 and its two-hundred day simple moving average is $2.91.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last released its quarterly earnings results on Monday, September 14th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.10). American Battery Technology had a negative return on equity of 64.63% and a negative net margin of 337.50%.The firm had revenue of $8.23 million for the quarter, compared to the consensus estimate of $8.20 million.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC acquired a new position in shares of American Battery Technology during the second quarter valued at $29,000. WINTON GROUP Ltd acquired a new stake in American Battery Technology in the second quarter worth about $132,000. Engineers Gate Manager LP acquired a new stake in American Battery Technology in the second quarter worth about $305,000. Connective Capital Management LLC bought a new position in American Battery Technology in the 2nd quarter valued at about $420,000. Finally, OneAscent Wealth Management LLC bought a new position in American Battery Technology in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 9.88% of the company's stock.

About American Battery Technology

American Battery Technology Company NASDAQ: ABAT is a U.S.-based battery materials company focused on producing and recycling lithium and other materials used in lithium-ion batteries. The company develops technologies intended to support a domestic, circular battery supply chain for electric vehicles, grid storage systems, consumer electronics and other applications.

Its business includes lithium-ion battery recycling, with processes designed to recover battery metals and produce battery-grade materials from end-of-life batteries and manufacturing scrap.

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