American Battery Technology (NASDAQ:ABAT) Downgraded to Sell Rating by Wall Street Zen

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

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of American Battery Technology in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, American Battery Technology currently has an average rating of “Sell”.

American Battery Technology Price Performance

ABAT stock opened at $3.37 on Friday. American Battery Technology has a fifty-two week low of $0.86 and a fifty-two week high of $11.49. The company has a 50 day moving average price of $4.11 and a 200 day moving average price of $4.13. The stock has a market capitalization of $443.86 million, a PE ratio of -8.43 and a beta of -1.20.

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

Insider Transactions at American Battery Technology

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

Institutional Investors Weigh In On American Battery Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Abound Wealth Management increased its stake in shares of American Battery Technology by 26.5% during the fourth quarter. Abound Wealth Management now owns 12,650 shares of the company’s stock valued at $42,000 after buying an additional 2,650 shares during the period. Police & Firemen s Retirement System of New Jersey grew its stake in shares of American Battery Technology by 8.9% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 32,455 shares of the company’s stock worth $108,000 after buying an additional 2,666 shares during the last quarter. Deutsche Bank AG grew its stake in shares of American Battery Technology by 4.3% in the 4th quarter. Deutsche Bank AG now owns 80,147 shares of the company’s stock worth $268,000 after buying an additional 3,305 shares during the last quarter. Osaic Holdings Inc. raised its stake in American Battery Technology by 8.5% during the second quarter. Osaic Holdings Inc. now owns 57,541 shares of the company’s stock valued at $93,000 after buying an additional 4,502 shares during the last quarter. Finally, Creative Planning increased its holdings in shares of American Battery Technology by 35.8% during the second quarter. Creative Planning now owns 18,958 shares of the company’s stock valued at $31,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other 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.