Wall Street Zen Upgrades American Battery Technology (NASDAQ:ABAT) to Hold

American Battery Technology (NASDAQ:ABAT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

American Battery Technology Trading Down 6.5%

NASDAQ:ABAT opened at $3.15 on Friday. The stock has a 50-day moving average price of $1.68 and a 200 day moving average price of $1.42. The stock has a market capitalization of $289.44 million, a P/E ratio of -3.42 and a beta of -2.23. American Battery Technology has a 12-month low of $0.73 and a 12-month high of $4.11.

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

Hedge Funds Weigh In On American Battery Technology

Institutional investors have recently bought and sold shares of the stock. Soviero Asset Management LP purchased a new stake in American Battery Technology in the 4th quarter worth $1,673,000. Chico Wealth RIA bought a new stake in shares of American Battery Technology in the first quarter worth about $206,000. Geode Capital Management LLC lifted its position in shares of American Battery Technology by 25.0% in the fourth quarter. Geode Capital Management LLC now owns 806,152 shares of the company's stock worth $1,984,000 after buying an additional 161,089 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of American Battery Technology in the first quarter worth about $144,000. Finally, Tcfg Wealth Management LLC bought a new position in American Battery Technology during the first quarter valued at approximately $96,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

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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