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

Key Points

• Traders showed significant interest in American Battery Technology (NASDAQ:ABAT), purchasing 6,590 call options, which represents a 208% increase compared to average volumes.
• American Battery Technology's stock has been trading down, currently at $3.08, and has a market capitalization of $282.56 million.
• The company reported a (-$0.14) EPS in its latest earnings, falling short of analyst estimates by ($0.18).
• Institutional investors hold 9.88% of ABAT's stock, with notable new positions taken by several hedge funds recently.

American Battery Technology Company (NASDAQ:ABAT - Get Free Report) was the recipient of some unusual options trading on Friday. Traders acquired 6,590 call options on the company. This is an increase of 208% compared to the typical daily volume of 2,140 call options.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On American Battery Technology

Institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC purchased a new stake in American Battery Technology in the 4th quarter worth approximately $25,000. Goldman Sachs Group Inc. purchased a new stake in American Battery Technology in the 1st quarter worth approximately $27,000. Squarepoint Ops LLC purchased a new stake in American Battery Technology in the 4th quarter worth approximately $32,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of American Battery Technology during the 4th quarter valued at approximately $43,000. Finally, Raymond James Financial Inc. purchased a new position in shares of American Battery Technology during the 4th quarter valued at approximately $56,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

American Battery Technology Trading Down 16.8%

Shares of ABAT traded down $0.49 during midday trading on Tuesday, reaching $2.40. 10,007,215 shares of the stock were exchanged, compared to its average volume of 2,844,896. The company's 50 day moving average is $1.71 and its two-hundred day moving average is $1.41. The company has a market capitalization of $220.07 million, a P/E ratio of -2.59 and a beta of -2.23. American Battery Technology has a 52 week low of $0.73 and a 52 week high of $4.11.

American Battery Technology (NASDAQ:ABAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.18). American Battery Technology had a negative net margin of 3,230.84% and a negative return on equity of 74.43%.

About American Battery Technology

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.