American Battery Technology Sees Unusually Large Options Volume (NASDAQ:ABAT)

American Battery Technology Company (NASDAQ:ABAT) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 43,470 put options on the company. This represents an increase of 276% compared to the average daily volume of 11,562 put options.

Institutional Trading of American Battery Technology

Several institutional investors have recently made changes to their positions in ABAT. ProShare Advisors LLC bought a new stake in shares of American Battery Technology in the 2nd quarter worth $27,000. Goldman Sachs Group Inc. purchased a new stake in American Battery Technology during the first quarter valued at about $27,000. Creative Planning lifted its holdings in American Battery Technology by 35.8% during the second quarter. Creative Planning now owns 18,958 shares of the company’s stock valued at $31,000 after purchasing an additional 5,000 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of American Battery Technology in the second quarter worth about $36,000. Finally, Cetera Investment Advisers raised its stake in American Battery Technology by 67.2% in the second quarter. Cetera Investment Advisers now owns 22,117 shares of the company’s stock valued at $36,000 after purchasing an additional 8,886 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

American Battery Technology Stock Down 2.6%

ABAT stock opened at $5.94 on Thursday. The company has a market cap of $701.22 million, a PE ratio of -10.07 and a beta of -1.64. American Battery Technology has a 52 week low of $0.73 and a 52 week high of $11.49. The business has a 50-day simple moving average of $4.07 and a 200 day simple moving average of $2.47.

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

Analyst Ratings Changes

Several brokerages recently commented on ABAT. Weiss Ratings reissued a “sell (e+)” rating on shares of American Battery Technology in a research note on Tuesday, October 14th. Wall Street Zen cut shares of American Battery Technology from a “hold” rating to a “sell” rating in a research note on Sunday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

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.