Stock Traders Purchase High Volume of Put Options on American Battery Technology (NASDAQ:ABAT)

Key Points

• On Wednesday, American Battery Technology (NASDAQ: ABAT) saw a sharp increase in put options trading, with 43,470 put options purchased, representing a growth of approximately 276% from the typical volume.
• Geode Capital Management significantly increased its stake in American Battery Technology by 113.8% during the 2nd quarter, now holding nearly 1.94 million shares valued at around $3.14 million.
• American Battery Technology is facing a consensus rating of "Sell" among analysts, with reports indicating declining confidence in its stock outlook.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock traders bought 43,470 put options on the company. This is an increase of approximately 276% compared to the typical volume of 11,562 put options.

Institutional Investors Weigh In On American Battery Technology

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of American Battery Technology by 113.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company's stock valued at $3,136,000 after purchasing an additional 1,030,323 shares during the last quarter. XTX Topco Ltd acquired a new stake in American Battery Technology during the 1st quarter worth $144,000. New York State Common Retirement Fund acquired a new stake in American Battery Technology during the 2nd quarter worth $120,000. Charles Schwab Investment Management Inc. acquired a new stake in American Battery Technology during the 1st quarter worth $71,000. Finally, Osaic Holdings Inc. boosted its stake 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 during the period. 9.88% of the stock is owned by hedge funds and other institutional investors.

American Battery Technology Stock Up 1.1%

American Battery Technology stock traded up $0.07 during mid-day trading on Wednesday, reaching $6.17. 5,315,707 shares of the company's stock were exchanged, compared to its average volume of 5,542,871. The company has a market cap of $728.13 million, a P/E ratio of -10.45 and a beta of -1.64. American Battery Technology has a twelve month low of $0.73 and a twelve month high of $11.49. The company has a fifty day moving average of $4.00 and a 200-day moving average of $2.44.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last released its earnings results on Thursday, September 18th. The company reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $2.78 million for the quarter. American Battery Technology had a negative return on equity of 67.35% and a negative net margin of 1,090.07%.

Wall Street Analyst Weigh In

ABAT has been the subject of a number of research reports. Weiss Ratings reissued a "sell (e+)" rating on shares of American Battery Technology in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of American Battery Technology from a "hold" rating to a "sell" rating in a research report on Sunday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

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.

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