American Battery Technology (NASDAQ:ABAT) Issues Earnings Results

American Battery Technology (NASDAQ:ABAT) issued its earnings results on Monday. The company reported ($0.15) EPS for the quarter, Zacks reports. American Battery Technology had a negative return on equity of 63.85% and a negative net margin of 390.48%.

American Battery Technology Stock Performance

American Battery Technology stock opened at $2.47 on Monday. The stock has a market cap of $336.93 million, a P/E ratio of -4.75 and a beta of 0.32. American Battery Technology has a fifty-two week low of $2.00 and a fifty-two week high of $11.49. The firm’s fifty day moving average price is $2.49 and its 200-day moving average price is $2.95.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On American Battery Technology

Several large investors have recently added to or reduced their stakes in ABAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in American Battery Technology in the 1st quarter worth about $58,000. Goldman Sachs Group Inc. bought a new position in shares of American Battery Technology in the 1st quarter worth $27,000. Geode Capital Management LLC increased its holdings in shares of American Battery Technology by 113.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company’s stock worth $3,136,000 after buying an additional 1,030,323 shares during the last quarter. Creative Planning raised its position in shares of American Battery Technology by 35.8% during the 2nd quarter. Creative Planning now owns 18,958 shares of the company’s stock valued at $31,000 after buying an additional 5,000 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of American Battery Technology by 67.2% during the 2nd 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. 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.