Insider Selling: American Battery Technology (NASDAQ:ABAT) COO Sells 115,480 Shares of Stock

American Battery Technology Company (NASDAQ:ABAT) COO Steven Wu sold 115,480 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.56, for a total transaction of $411,108.80. Following the completion of the transaction, the chief operating officer directly owned 342,695 shares in the company, valued at $1,219,994.20. This trade represents a 25.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

American Battery Technology Stock Up 0.3%

ABAT traded up $0.01 during trading on Monday, reaching $3.39. The company’s stock had a trading volume of 6,295,076 shares, compared to its average volume of 5,807,244. The firm has a fifty day simple moving average of $3.26 and a two-hundred day simple moving average of $3.64. American Battery Technology Company has a 1 year low of $1.20 and a 1 year high of $11.49. The company has a market cap of $462.43 million, a price-to-earnings ratio of -6.52 and a beta of -0.01.

American Battery Technology (NASDAQ:ABAT) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.18). The firm had revenue of $7.81 million for the quarter, compared to analysts’ expectations of $3.70 million. American Battery Technology had a negative net margin of 390.48% and a negative return on equity of 63.85%.

Analyst Ratings Changes

Several analysts have recently commented on ABAT shares. Maxim Group assumed coverage on shares of American Battery Technology in a research report on Tuesday, April 28th. They set a “buy” rating and a $6.00 price target on the stock. Wall Street Zen lowered American Battery Technology from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings lowered American Battery Technology from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, American Battery Technology presently has an average rating of “Moderate Buy” and an average target price of $6.00.

Hedge Funds Weigh In On American Battery Technology

Several large investors have recently bought and sold shares of ABAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of American Battery Technology during the first quarter worth about $58,000. Goldman Sachs Group Inc. purchased a new position in shares of American Battery Technology during the first quarter worth about $27,000. Geode Capital Management LLC grew its holdings in shares of American Battery Technology by 113.8% during the second quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company’s stock worth $3,136,000 after purchasing an additional 1,030,323 shares during the last quarter. Creative Planning grew its holdings in shares of American Battery Technology by 35.8% during the second quarter. Creative Planning now owns 18,958 shares of the company’s stock worth $31,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings 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 during 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 (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.