American Battery Technology Company (NASDAQ:ABAT) Short Interest Up 59.3% in August

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 significant growth in short interest during 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. Approximately 13.7% of the shares of the stock are sold short. Based on an average daily volume of 4,500,000 shares, the short-interest ratio is currently 2.7 days. Based on an average daily volume of 4,500,000 shares, the short-interest ratio is currently 2.7 days. Approximately 13.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

American Battery Technology Trading Up 2.0%

American Battery Technology stock traded up $0.05 during mid-day trading on Thursday, hitting $2.33. The stock had a trading volume of 449,108 shares, compared to its average volume of 3,105,288. American Battery Technology has a 12 month low of $0.73 and a 12 month high of $4.11. The stock has a 50-day simple moving average of $2.37 and a two-hundred day simple moving average of $1.62. The stock has a market capitalization of $213.64 million, a PE ratio of -2.54 and a beta of -2.19.

Hedge Funds Weigh In On American Battery Technology

Several hedge funds have recently added to or reduced their stakes in ABAT. Raymond James Financial Inc. acquired a new position in American Battery Technology in the fourth quarter valued at about $56,000. Tower Research Capital LLC TRC lifted its stake in American Battery Technology by 753.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 29,773 shares of the company's stock valued at $73,000 after buying an additional 26,286 shares during the period. Northern Trust Corp lifted its stake in American Battery Technology by 49.3% in the fourth quarter. Northern Trust Corp now owns 131,742 shares of the company's stock valued at $324,000 after buying an additional 43,478 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in American Battery Technology in the fourth quarter valued at about $43,000. Finally, Mercer Global Advisors Inc. ADV lifted its stake in American Battery Technology by 154.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 30,500 shares of the company's stock valued at $75,000 after buying an additional 18,500 shares during the period. Institutional investors and hedge funds own 9.88% of the company's stock.

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.