American Battery Technology (NASDAQ:ABAT) Shares Up 10.2% – Here’s What Happened

American Battery Technology Company (NASDAQ:ABAT)’s stock price shot up 10.2% on Wednesday . The company traded as high as $4.22 and last traded at $4.0650. 3,523,489 shares traded hands during trading, a decline of 40% from the average session volume of 5,864,826 shares. The stock had previously closed at $3.69.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABAT. Wall Street Zen cut shares of American Battery Technology from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of American Battery Technology in a research note on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat, American Battery Technology currently has a consensus rating of “Sell”.

American Battery Technology Trading Up 9.9%

The company has a market capitalization of $527.03 million, a PE ratio of -7.93 and a beta of -1.64. The stock’s 50-day moving average is $4.81 and its two-hundred day moving average is $2.94.

American Battery Technology (NASDAQ:ABAT) last released its earnings results on Thursday, November 6th. The company reported ($0.09) EPS for the quarter. The business had revenue of $0.94 million for the quarter. American Battery Technology had a negative net margin of 902.69% and a negative return on equity of 59.93%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC purchased a new stake in shares of American Battery Technology in the second quarter valued at approximately $27,000. Goldman Sachs Group Inc. bought a new position in shares of American Battery Technology during the 1st quarter worth approximately $27,000. Creative Planning boosted its stake in American Battery Technology by 35.8% in the second quarter. Creative Planning now owns 18,958 shares of the company’s stock valued at $31,000 after acquiring an additional 5,000 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of American Battery Technology during the second quarter worth $36,000. Finally, Cetera Investment Advisers increased 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 purchasing an additional 8,886 shares in the last quarter. Hedge funds and other institutional investors 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.