Susan Lee Sells 21,360 Shares of American Battery Technology (NASDAQ:ABAT) Stock

American Battery Technology Company (NASDAQ:ABAT) Director Susan Lee sold 21,360 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $2.16, for a total value of $46,137.60. Following the sale, the director owned 170,840 shares of the company’s stock, valued at $369,014.40. This trade represents a 11.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

American Battery Technology Trading Down 2.7%

Shares of NASDAQ:ABAT opened at $2.18 on Friday. The stock has a market cap of $310.82 million, a PE ratio of -3.82 and a beta of 0.32. The stock’s fifty day simple moving average is $2.45 and its two-hundred day simple moving average is $2.90. American Battery Technology Company has a 1-year low of $2.00 and a 1-year high of $11.49.

American Battery Technology (NASDAQ:ABAT) last announced its earnings results on Monday, September 14th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.10). American Battery Technology had a negative net margin of 337.50% and a negative return on equity of 64.63%. The firm had revenue of $8.23 million during the quarter, compared to analysts’ expectations of $8.20 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded American Battery Technology from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Hedge Funds Weigh In On American Battery Technology

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in shares of American Battery Technology by 352.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 644,381 shares of the company’s stock worth $1,794,000 after purchasing an additional 501,919 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of American Battery Technology in the second quarter valued at $885,000. GK Wealth Management LLC purchased a new position in shares of American Battery Technology during the 2nd quarter valued at $85,000. Sei Investments Co. bought a new position in shares of American Battery Technology during the 1st quarter worth $84,000. Finally, Swiss National Bank increased its holdings in American Battery Technology by 10.5% in the 1st quarter. Swiss National Bank now owns 257,200 shares of the company’s stock worth $718,000 after acquiring an additional 24,400 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

American Battery Technology Company Profile

American Battery Technology Company (NASDAQ: ABAT) is a U.S.-based battery materials company focused on producing and recycling lithium and other materials used in lithium-ion batteries. The company develops technologies intended to support a domestic, circular battery supply chain for electric vehicles, grid storage systems, consumer electronics and other applications.

Its business includes lithium-ion battery recycling, with processes designed to recover battery metals and produce battery-grade materials from end-of-life batteries and manufacturing scrap.