American Battery Technology (NASDAQ:ABAT) COO Sells $411,108.80 in Stock

American Battery Technology Company (NASDAQ:ABAT) COO Steven Wu sold 115,480 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.56, for a total value of $411,108.80. Following the transaction, the chief operating officer owned 342,695 shares of the company’s stock, valued at $1,219,994.20. This trade represents a 25.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

American Battery Technology Price Performance

Shares of NASDAQ:ABAT traded up $0.01 during trading hours on Monday, hitting $3.39. 6,295,076 shares of the company’s stock traded hands, compared to its average volume of 5,807,244. American Battery Technology Company has a 1 year low of $1.20 and a 1 year high of $11.49. The business has a fifty day moving average price of $3.26 and a 200-day moving average price of $3.64. The firm has a market capitalization of $462.43 million, a P/E ratio of -6.52 and a beta of -0.01.

American Battery Technology (NASDAQ:ABAT) last announced its earnings results on Monday, May 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The business had revenue of $7.81 million for the quarter, compared to analysts’ expectations of $3.70 million. American Battery Technology had a negative net margin of 390.48% and a negative return on equity of 63.85%.

Hedge Funds Weigh In On American Battery Technology

Several hedge funds have recently made changes to their positions in ABAT. Elyxium Wealth LLC purchased a new stake in American Battery Technology in the fourth quarter valued at $25,000. Russell Investments Group Ltd. purchased a new position in American Battery Technology in the 3rd quarter worth approximately $45,000. Royal Bank of Canada lifted its stake in American Battery Technology by 167.4% in the 1st quarter. Royal Bank of Canada now owns 10,133 shares of the company’s stock worth $28,000 after purchasing an additional 6,344 shares in the last quarter. Atom Investors LP purchased a new position in American Battery Technology in the 4th quarter worth approximately $38,000. Finally, NorthRock Partners LLC purchased a new position in American Battery Technology in the 3rd quarter worth approximately $56,000. 9.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABAT has been the subject of a number of research reports. Weiss Ratings lowered American Battery Technology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Wall Street Zen lowered American Battery Technology from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, Maxim Group initiated coverage on American Battery Technology in a report on Tuesday, April 28th. They issued a “buy” rating and a $6.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

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.