Key Points
- ABAT COO Steven Wu sold 115,480 shares on June 15 at an average price of $3.56, totaling about $411,108.80. After the sale, he still held 342,695 shares, a 25.2% reduction in his position.
- The stock was trading around $3.39, up 0.3% on the day, with a 50-day moving average of $3.27 and a 200-day average of $3.64. ABAT remains well below its 52-week high of $11.49.
- American Battery Technology reported a larger-than-expected loss in its latest quarter, posting EPS of -$0.26 versus the -$0.08 estimate. Despite that, revenue came in at $7.81 million, above analyst expectations, and the stock currently has a Moderate Buy consensus with a $6.00 price target.
American Battery Technology Company (NASDAQ:ABAT - Get Free Report) COO Steven Wu sold 115,480 shares of American Battery Technology stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.56, for a total transaction of $411,108.80. Following the completion of the sale, the chief operating officer owned 342,695 shares in the company, valued at approximately $1,219,994.20. This trade represents a 25.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
American Battery Technology Stock Up 0.3%
Shares of NASDAQ ABAT opened at $3.39 on Tuesday. The company's 50-day simple moving average is $3.27 and its 200-day simple moving average is $3.64. American Battery Technology Company has a 52-week low of $1.20 and a 52-week high of $11.49. The firm 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 - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.18). American Battery Technology had a negative net margin of 390.48% and a negative return on equity of 63.85%. The company had revenue of $7.81 million during the quarter, compared to analyst estimates of $3.70 million.
Analysts Set New Price Targets
Several brokerages have recently issued reports on ABAT. Maxim Group began coverage on shares of American Battery Technology in a research report on Tuesday, April 28th. They issued a "buy" rating and a $6.00 target price on the stock. Weiss Ratings lowered shares of American Battery Technology from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, May 22nd. Finally, Wall Street Zen lowered shares of American Battery Technology from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $6.00.
Check Out Our Latest Report on American Battery Technology
Hedge Funds Weigh In On American Battery Technology
A number of institutional investors and hedge funds have recently bought and sold shares of ABAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in American Battery Technology during the first quarter worth about $58,000. Goldman Sachs Group Inc. acquired a new position in American Battery Technology during the first quarter worth about $27,000. Geode Capital Management LLC boosted its position in 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 acquiring an additional 1,030,323 shares during the last quarter. Creative Planning boosted its position in 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 acquiring an additional 5,000 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in 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 acquiring an additional 8,886 shares during the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.
American Battery Technology Company Profile
(
Get Free Report)
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.
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