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

American Battery Technology (NASDAQ:ABAT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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

American Battery Technology Stock Performance

Shares of NASDAQ:ABAT opened at $3.37 on Friday. The firm has a market cap of $443.86 million, a price-to-earnings ratio of -8.43 and a beta of -1.20. The firm has a fifty day moving average price of $4.11 and a 200 day moving average price of $4.13. 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 announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.07) earnings per share (EPS) for the quarter. American Battery Technology had a negative net margin of 436.31% and a negative return on equity of 46.98%. The company had revenue of $4.76 million during the quarter.

Insider Activity at American Battery Technology

In other news, insider Scott Jolcover sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $3.88, for a total transaction of $67,900.00. Following the completion of the sale, the insider owned 321,424 shares in the company, valued at approximately $1,247,125.12. The trade was a 5.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Institutional Trading of American Battery Technology

Several institutional investors and hedge funds have recently bought and sold shares of ABAT. Virtu Financial LLC lifted its stake in shares of American Battery Technology by 38.8% during the fourth quarter. Virtu Financial LLC now owns 62,360 shares of the company’s stock valued at $208,000 after buying an additional 17,421 shares during the period. Invesco Ltd. increased its position in shares of American Battery Technology by 77.7% during the 4th quarter. Invesco Ltd. now owns 77,775 shares of the company’s stock valued at $260,000 after purchasing an additional 34,006 shares during the period. XTX Topco Ltd bought a new stake in American Battery Technology in the fourth quarter worth about $165,000. Millennium Management LLC lifted its position in shares of American Battery Technology by 163.8% in the 4th quarter. Millennium Management LLC now owns 3,180,635 shares of the company’s stock valued at $10,623,000 after acquiring an additional 1,975,021 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in American Battery Technology during the 4th quarter valued at $219,000. 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.