Key Points
- Director Susan Lee sold 21,360 ABAT shares at an average price of $2.16, generating $46,137.60 and reducing her ownership by 11.11% to 170,840 shares.
- American Battery Technology’s latest quarterly loss was wider than expected, with EPS of negative $0.15 versus estimates of negative $0.05, although revenue of $8.23 million slightly exceeded forecasts.
- The stock traded up 5.7% to open at $2.24, while analysts maintained a “Moderate Buy” consensus with a $6.00 average price target; institutional investors own 9.88% of the company.
American Battery Technology Company (NASDAQ:ABAT - Get Free Report) Director Susan Lee sold 21,360 shares of the firm's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $2.16, for a total transaction of $46,137.60. Following the completion of the sale, the director owned 170,840 shares of the company's stock, valued at $369,014.40. The trade was a 11.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
American Battery Technology Trading Up 5.7%
ABAT opened at $2.24 on Friday. The company has a fifty day moving average price of $2.46 and a two-hundred day moving average price of $2.90. American Battery Technology Company has a 1-year low of $2.00 and a 1-year high of $11.49. The company has a market cap of $319.37 million, a P/E ratio of -3.93 and a beta of 0.32.
American Battery Technology (NASDAQ:ABAT - Get Free Report) last released its quarterly earnings data on Monday, September 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.10). The company had revenue of $8.23 million for the quarter, compared to the consensus estimate of $8.20 million. American Battery Technology had a negative return on equity of 64.63% and a negative net margin of 337.50%.
Analysts Set New Price Targets
Separately, Weiss Ratings raised 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $6.00.
View Our Latest Research Report on ABAT
Institutional Investors Weigh In On American Battery Technology
Several hedge funds and other institutional investors have recently made changes to their positions in ABAT. Sequoia Financial Advisors LLC bought a new position in American Battery Technology in the 2nd quarter valued at about $29,000. WINTON GROUP Ltd acquired a new position in American Battery Technology during the 2nd quarter valued at about $132,000. Engineers Gate Manager LP bought a new stake in American Battery Technology during the 2nd quarter worth approximately $305,000. Connective Capital Management LLC bought a new stake in American Battery Technology during the 2nd quarter worth approximately $420,000. Finally, OneAscent Wealth Management LLC purchased a new stake in shares of American Battery Technology in the second quarter worth approximately $30,000. 9.88% of the stock is owned by institutional investors.
About American Battery Technology
(
Get Free Report)
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.
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