American Battery Technology (NASDAQ:ABAT) Stock Price Down 6.5% – Time to Sell?

American Battery Technology Company (NASDAQ:ABAT)’s stock price was down 6.5% during mid-day trading on Tuesday . The stock traded as low as $4.42 and last traded at $4.3550. Approximately 4,972,406 shares traded hands during trading, a decline of 30% from the average daily volume of 7,131,045 shares. The stock had previously closed at $4.66.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABAT. Wall Street Zen lowered American Battery Technology from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Weiss Ratings restated a “sell (e+)” rating on shares of American Battery Technology in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

American Battery Technology Stock Down 4.0%

The business has a 50-day simple moving average of $3.92 and a two-hundred day simple moving average of $3.56. The stock has a market capitalization of $588.76 million, a P/E ratio of -8.88 and a beta of -1.31.

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

Insider Transactions at American Battery Technology

In other news, COO Steven Wu sold 12,333 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $4.05, for a total value of $49,948.65. Following the transaction, the chief operating officer directly owned 286,236 shares of the company’s stock, valued at $1,159,255.80. The trade was a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Jolcover sold 17,500 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $3.88, for a total value of $67,900.00. Following the sale, the insider owned 321,424 shares in the company, valued at approximately $1,247,125.12. This trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On American Battery Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of American Battery Technology in the first quarter valued at $58,000. Goldman Sachs Group Inc. bought a new position in shares of American Battery Technology in the first quarter worth about $27,000. ProShare Advisors LLC acquired a new position in shares of American Battery Technology during the second quarter worth approximately $27,000. Geode Capital Management LLC lifted its position 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 in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of American Battery Technology during the second quarter valued at approximately $36,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

American Battery Technology Company Profile

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.