Short Interest in American Battery Technology (NASDAQ:ABAT) Expands By 6.5%

American Battery Technology (NASDAQ:ABAT) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 4,580,000 shares, an increase of 6.5% from the March 15th total of 4,300,000 shares. Based on an average trading volume of 779,200 shares, the days-to-cover ratio is currently 5.9 days. Currently, 8.6% of the company’s stock are sold short.

Hedge Funds Weigh In On American Battery Technology

Large investors have recently added to or reduced their stakes in the company. Fortis Capital Management LLC acquired a new position in shares of American Battery Technology in the 3rd quarter worth approximately $420,000. Commonwealth Equity Services LLC bought a new stake in American Battery Technology during the 3rd quarter worth approximately $140,000. Grassi Investment Management bought a new stake in American Battery Technology during the 4th quarter worth approximately $2,224,000. PNC Financial Services Group Inc. bought a new stake in American Battery Technology during the 3rd quarter worth approximately $29,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in American Battery Technology during the 4th quarter worth approximately $153,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Northland Securities began coverage on American Battery Technology in a research note on Wednesday, March 27th. They set an “outperform” rating and a $6.00 price target for the company.

American Battery Technology Stock Performance

Shares of NASDAQ:ABAT opened at $1.61 on Tuesday. The business has a 50 day moving average price of $2.02 and a 200 day moving average price of $3.72. American Battery Technology has a twelve month low of $1.55 and a twelve month high of $14.10.

American Battery Technology (NASDAQ:ABAT) last announced its earnings results on Wednesday, February 14th. The company reported ($0.19) earnings per share for the quarter.

American Battery Technology Company Profile

American Battery Technology Company operates as a battery materials company. The company explores for resources of battery metals, such as such as lithium, nickel, cobalt, and manganese; and develops and commercializes technologies for the extraction of battery metals, as well as commercializes integrated process for the recycling of lithium-ion batteries.