Short Interest in American Battery Technology Company (NASDAQ:ABAT) Expands By 59.3%

Key Points

• Short interest in American Battery Technology Company (NASDAQ:ABAT) rose by 59.3% in August, reaching a total of 12,170,000 shares sold short, representing 13.7% of the company's stock.
• Wall Street Zen upgraded American Battery Technology's rating from "sell" to "hold" on July 26th, indicating a potential positive outlook for investors.
• Several institutional investors, including Geode Capital Management, significantly increased their stakes in ABAT, with Geode raising its holdings by 113.8% in the second quarter.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 12,170,000 shares, a growth of 59.3% from the July 31st total of 7,640,000 shares. Currently, 13.7% of the shares of the company are sold short. Based on an average trading volume of 4,500,000 shares, the days-to-cover ratio is presently 2.7 days. Based on an average trading volume of 4,500,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 13.7% of the shares of the company are sold short.

Institutional Trading of American Battery Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted 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 worth $93,000 after purchasing an additional 4,502 shares in the last quarter. Creative Planning lifted its holdings in American Battery Technology by 35.8% during the 2nd quarter. Creative Planning now owns 18,958 shares of the company's stock worth $31,000 after purchasing an additional 5,000 shares in the last quarter. Cetera Investment Advisers lifted its holdings in American Battery Technology by 67.2% during the 2nd quarter. Cetera Investment Advisers now owns 22,117 shares of the company's stock worth $36,000 after purchasing an additional 8,886 shares in the last quarter. Two Sigma Investments LP lifted its holdings in American Battery Technology by 39.8% during the 4th quarter. Two Sigma Investments LP now owns 37,750 shares of the company's stock worth $93,000 after purchasing an additional 10,756 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in American Battery Technology during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 9.88% of the company's stock.

American Battery Technology Stock Up 4.8%

ABAT traded up $0.11 during trading on Thursday, reaching $2.39. 2,596,369 shares of the company were exchanged, compared to its average volume of 3,846,248. The company's 50-day moving average is $2.38 and its two-hundred day moving average is $1.63. The company has a market cap of $219.62 million, a price-to-earnings ratio of -2.60 and a beta of -2.19. American Battery Technology has a 12-month low of $0.73 and a 12-month high of $4.11.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded American Battery Technology from a "sell" rating to a "hold" rating in a research note 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.