American Battery Technology (NASDAQ:ABAT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of American Battery Technology (NASDAQ:ABAT) from a sell rating to a hold rating in a research note published on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of American Battery Technology in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

American Battery Technology Stock Performance

Shares of ABAT opened at $4.18 on Friday. American Battery Technology has a 52 week low of $0.86 and a 52 week high of $11.49. The stock has a market capitalization of $550.55 million, a price-to-earnings ratio of -10.45 and a beta of -1.35. The stock has a fifty day moving average of $4.22 and a 200-day moving average of $3.98.

American Battery Technology (NASDAQ:ABAT) last issued its earnings results on Thursday, February 5th. The company reported ($0.07) earnings per share (EPS) for the quarter. American Battery Technology had a negative return on equity of 46.98% and a negative net margin of 436.31%.The firm had revenue of $4.76 million during the quarter.

Insider Buying and Selling

In other news, insider Scott Jolcover sold 17,500 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $3.88, for a total transaction of $67,900.00. Following the completion of the sale, the insider directly owned 321,424 shares in the company, valued at $1,247,125.12. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Steven Wu sold 12,333 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $4.05, for a total transaction of $49,948.65. Following the completion of the transaction, the chief operating officer owned 286,236 shares in the company, valued at approximately $1,159,255.80. The trade was a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ABAT. Elyxium Wealth LLC acquired a new stake in American Battery Technology during the fourth quarter worth approximately $25,000. Russell Investments Group Ltd. bought a new position in shares of American Battery Technology during the 3rd quarter worth approximately $45,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of American Battery Technology during the 3rd quarter worth approximately $52,000. NorthRock Partners LLC acquired a new stake in shares of American Battery Technology during the 3rd quarter worth approximately $56,000. Finally, Kingsview Wealth Management LLC bought a new stake in shares of American Battery Technology in the 4th quarter valued at $39,000. 9.88% of the stock is owned by institutional investors.

About American Battery Technology

American Battery Technology Company (NASDAQ: ABAT) is a U.S.-based company focused on developing domestic supply chain solutions for critical battery metals. The company’s core activities span from exploration and extraction of lithium resources to the design and operation of recycling facilities targeted at end-of-life batteries and manufacturing scrap. By integrating upstream resource development with downstream recycling, ABAT aims to create a closed-loop system that bolsters North American battery manufacturing.

On the resource side, American Battery Technology holds lithium claystone claims in Nevada’s Clayton Valley and is advancing a pilot direct-extraction facility designed to recover lithium and other valuable metals from brines.