American Battery Technology (NASDAQ:ABAT) Shares Up 10.8% – Here’s What Happened

American Battery Technology Company (NASDAQ:ABAT) shares shot up 10.8% on Thursday . The company traded as high as $4.18 and last traded at $4.1550. 3,826,372 shares changed hands during trading, a decline of 35% from the average session volume of 5,886,232 shares. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

A number of analysts have commented on ABAT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Battery Technology in a report on Monday. Wall Street Zen downgraded American Battery Technology from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, American Battery Technology currently has an average rating of “Sell”.

American Battery Technology Trading Down 1.0%

The firm’s fifty day moving average price is $4.94 and its 200-day moving average price is $3.12. The company has a market cap of $539.38 million, a price-to-earnings ratio of -8.14 and a beta of -1.42.

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

Institutional Trading of American Battery Technology

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in American Battery Technology by 8,555.4% in the 3rd quarter. Millennium Management LLC now owns 1,205,614 shares of the company’s stock worth $5,859,000 after purchasing an additional 1,191,685 shares during the period. Geode Capital Management LLC boosted 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 buying an additional 1,030,323 shares during the period. Vanguard Group Inc. grew its holdings in shares of American Battery Technology by 18.7% during the third quarter. Vanguard Group Inc. now owns 5,277,095 shares of the company’s stock worth $25,647,000 after buying an additional 829,609 shares in the last quarter. Soviero Asset Management LP bought a new position in shares of American Battery Technology during the third quarter worth about $3,062,000. Finally, Raymond James Financial Inc. raised its position in American Battery Technology by 833.3% in the 3rd quarter. Raymond James Financial Inc. now owns 396,125 shares of the company’s stock valued at $1,925,000 after buying an additional 353,681 shares during the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.

American Battery Technology Company Profile

American Battery Technology Company operates as a battery materials company. The company explores for resources of battery metals, such as such as lithium, nickel, cobalt, and manganese; and develops and commercializes technologies for the extraction of battery metals, as well as commercializes integrated process for the recycling of lithium-ion batteries.