American Battery Technology (NASDAQ:ABAT) Rating Increased to Strong-Buy at Maxim Group

Maxim Group upgraded shares of American Battery Technology (NASDAQ:ABAT) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

ABAT has been the topic of a number of other research reports. Wall Street Zen lowered American Battery Technology from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “sell (e+)” rating on shares of American Battery Technology in a research report on Monday, December 29th. One equities 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, the company has a consensus rating of “Moderate Buy” and an average target price of $6.00.

American Battery Technology Stock Performance

American Battery Technology stock opened at $3.08 on Tuesday. The firm has a market cap of $405.66 million, a P/E ratio of -7.70 and a beta of -0.52. The business’s fifty day moving average is $3.20 and its two-hundred day moving average is $4.02. American Battery Technology has a 52 week low of $1.20 and a 52 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. The business had revenue of $4.76 million during the quarter. American Battery Technology had a negative return on equity of 46.98% and a negative net margin of 436.31%.

Institutional Investors Weigh In On American Battery Technology

A number of institutional investors and hedge funds have recently made changes to their positions in ABAT. Elyxium Wealth LLC bought a new stake in shares of American Battery Technology during the fourth quarter worth $25,000. Goldman Sachs Group Inc. bought a new stake in shares of American Battery Technology during the first quarter worth $27,000. Creative Planning raised its position in shares of American Battery Technology by 35.8% during the second quarter. Creative Planning now owns 18,958 shares of the company’s stock worth $31,000 after acquiring an additional 5,000 shares during the last quarter. Cetera Investment Advisers raised its position in shares of American Battery Technology by 67.2% during the second quarter. Cetera Investment Advisers now owns 22,117 shares of the company’s stock worth $36,000 after acquiring an additional 8,886 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of American Battery Technology during the second quarter worth $37,000. 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.