American Battery Technology (NASDAQ:ABAT) Director Susan Lee Sells 21,360 Shares of Stock

American Battery Technology Company (NASDAQ:ABAT) Director Susan Lee sold 21,360 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $2.16, for a total value of $46,137.60. Following the completion of the sale, the director directly owned 170,840 shares of the company’s stock, valued at approximately $369,014.40. The trade was a 11.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

American Battery Technology Price Performance

Shares of ABAT opened at $2.24 on Friday. The business has a 50-day moving average of $2.46 and a 200-day moving average of $2.90. The company has a market capitalization of $319.37 million, a price-to-earnings ratio of -3.93 and a beta of 0.32. American Battery Technology Company has a 1 year low of $2.00 and a 1 year high of $11.49.

American Battery Technology (NASDAQ:ABAT) last announced its earnings results on Monday, September 14th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The company had revenue of $8.23 million during the quarter, compared to the consensus estimate of $8.20 million. American Battery Technology had a negative net margin of 337.50% and a negative return on equity of 64.63%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of American Battery Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, American Battery Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Institutional Investors Weigh In On American Battery Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in American Battery Technology by 352.3% during the first quarter. Dimensional Fund Advisors LP now owns 644,381 shares of the company’s stock worth $1,794,000 after purchasing an additional 501,919 shares during the period. Bank of New York Mellon Corp acquired a new position in American Battery Technology in the second quarter valued at approximately $885,000. Connective Capital Management LLC bought a new position in shares of American Battery Technology during the 2nd quarter worth approximately $420,000. Engineers Gate Manager LP bought a new position in shares of American Battery Technology during the 2nd quarter worth approximately $305,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of American Battery Technology during the 2nd quarter worth approximately $132,000. Institutional investors own 9.88% of the company’s stock.

American Battery Technology Company Profile

American Battery Technology Company (NASDAQ: ABAT) is a U.S.-based battery materials company focused on producing and recycling lithium and other materials used in lithium-ion batteries. The company develops technologies intended to support a domestic, circular battery supply chain for electric vehicles, grid storage systems, consumer electronics and other applications.

Its business includes lithium-ion battery recycling, with processes designed to recover battery metals and produce battery-grade materials from end-of-life batteries and manufacturing scrap.