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

Wall Street Zen cut shares of American Battery Technology (NASDAQ:ABAT) from a hold rating to a sell rating in a report released on Friday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of American Battery Technology in a research report on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

American Battery Technology Price Performance

ABAT opened at $4.88 on Friday. The stock has a market capitalization of $576.08 million, a PE ratio of -8.27 and a beta of -1.64. American Battery Technology has a 12-month low of $0.73 and a 12-month high of $5.49. The firm’s fifty day moving average price is $2.90 and its 200 day moving average price is $1.95.

American Battery Technology (NASDAQ:ABAT) last released its quarterly earnings results on Thursday, September 18th. The company reported ($0.10) earnings per share for the quarter. American Battery Technology had a negative net margin of 1,090.07% and a negative return on equity of 67.35%. The business had revenue of $2.78 million for the quarter.

Hedge Funds Weigh In On American Battery Technology

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in American Battery Technology by 113.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company’s stock valued at $3,136,000 after purchasing an additional 1,030,323 shares during the period. Chico Wealth RIA acquired a new stake in shares of American Battery Technology during the first quarter worth $206,000. XTX Topco Ltd bought a new position in American Battery Technology during the first quarter worth $144,000. Tcfg Wealth Management LLC acquired a new position in American Battery Technology in the first quarter valued at $96,000. Finally, New York State Common Retirement Fund acquired a new position in American Battery Technology in the second quarter valued at $120,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

About American Battery Technology

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.