American Battery Technology (NASDAQ:ABAT) Stock Rating Lowered by Wall Street Zen

American Battery Technology (NASDAQ:ABAT) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of American Battery Technology in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, American Battery Technology currently has an average rating of “Sell”.

American Battery Technology Trading Down 0.9%

Shares of NASDAQ ABAT opened at $3.37 on Friday. American Battery Technology has a 12-month low of $0.86 and a 12-month high of $11.49. The company has a market cap of $443.86 million, a PE ratio of -8.43 and a beta of -1.20. The stock has a 50 day simple moving average of $4.11 and a 200-day simple moving average of $4.15.

American Battery Technology (NASDAQ:ABAT) last announced its earnings results on Thursday, February 5th. The company reported ($0.07) earnings per share for the quarter. The business had revenue of $4.76 million for the quarter. American Battery Technology had a negative net margin of 436.31% and a negative return on equity of 46.98%.

Insider Buying and Selling

In other American Battery Technology news, insider Scott Jolcover sold 17,500 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $3.88, for a total value of $67,900.00. Following the sale, the insider directly owned 321,424 shares in the company, valued at approximately $1,247,125.12. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On American Battery Technology

Several hedge funds have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of American Battery Technology during the second quarter worth $36,000. ProShare Advisors LLC acquired a new position in shares of American Battery Technology in the 2nd quarter valued at $27,000. Thrivent Financial for Lutherans acquired a new position in shares of American Battery Technology in the 2nd quarter valued at $50,000. Russell Investments Group Ltd. purchased a new position in American Battery Technology in the 3rd quarter worth about $45,000. Finally, Jump Financial LLC acquired a new stake in American Battery Technology during the 4th quarter worth about $43,000. Institutional investors and hedge funds 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.