American Battery Technology (NASDAQ:ABAT) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of American Battery Technology (NASDAQ:ABAT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

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

American Battery Technology Stock Performance

NASDAQ:ABAT opened at $3.37 on Friday. The firm has a market capitalization of $443.86 million, a PE ratio of -8.43 and a beta of -1.20. The stock’s fifty day moving average is $4.11 and its 200 day moving average is $4.14. American Battery Technology has a fifty-two week low of $0.86 and a fifty-two week high of $11.49.

American Battery Technology (NASDAQ:ABAT) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.07) 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 for the quarter.

Insider Activity

In related news, insider Scott Jolcover sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was 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 of the company’s stock, valued at approximately $1,247,125.12. This trade represents a 5.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of American Battery Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elyxium Wealth LLC bought a new stake in shares of American Battery Technology during the fourth quarter worth $25,000. Russell Investments Group Ltd. bought a new position in shares of American Battery Technology in the third quarter worth about $45,000. Gladstone Institutional Advisory LLC bought a new position in shares of American Battery Technology in the third quarter worth about $52,000. Atom Investors LP purchased a new position in American Battery Technology in the 4th quarter worth about $38,000. Finally, NorthRock Partners LLC purchased a new position in American Battery Technology in the 3rd quarter worth about $56,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.