American Battery Technology (NASDAQ:ABAT) Posts Quarterly Earnings Results

American Battery Technology (NASDAQ:ABAT) issued its quarterly earnings data on Monday. The company reported ($0.15) earnings per share (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%.The business had revenue of $8.23 million for the quarter.

American Battery Technology Stock Performance

Shares of NASDAQ ABAT opened at $2.47 on Monday. American Battery Technology has a 1 year low of $2.00 and a 1 year high of $11.49. The firm has a market cap of $336.93 million, a P/E ratio of -4.75 and a beta of 0.32. The stock has a fifty day moving average price of $2.49 and a two-hundred day moving average price of $2.95.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Invesco Ltd. acquired a new stake in American Battery Technology in the 2nd quarter valued at about $68,000. Russell Investments Group Ltd. raised its holdings in shares of American Battery Technology by 97.0% in the 4th quarter. Russell Investments Group Ltd. now owns 18,416 shares of the company’s stock worth $62,000 after purchasing an additional 9,067 shares in the last quarter. Revere Asset Management Inc acquired a new stake in American Battery Technology during the third quarter valued at approximately $61,000. Prelude Capital Management LLC bought a new stake in American Battery Technology during the third quarter worth approximately $61,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in American Battery Technology during the first quarter worth approximately $58,000. Institutional investors own 9.88% of the company’s stock.

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 analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.00.

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.