American Battery Technology (NASDAQ:ABAT) COO Steven Wu Sells 115,480 Shares of Stock

American Battery Technology Company (NASDAQ:ABAT) COO Steven Wu sold 115,480 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $3.56, for a total transaction of $411,108.80. Following the transaction, the chief operating officer directly owned 342,695 shares of the company’s stock, valued at approximately $1,219,994.20. This trade represents a 25.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

American Battery Technology Price Performance

Shares of American Battery Technology stock opened at $3.39 on Tuesday. The firm has a fifty day moving average price of $3.27 and a 200 day moving average price of $3.64. American Battery Technology Company has a 1 year low of $1.20 and a 1 year high of $11.49. The stock has a market cap of $462.43 million, a PE ratio of -6.52 and a beta of -0.01.

American Battery Technology (NASDAQ:ABAT) last issued its earnings results on Monday, May 11th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.18). 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 $7.81 million for the quarter, compared to analysts’ expectations of $3.70 million.

Wall Street Analyst Weigh In

ABAT has been the subject of several recent research reports. Maxim Group initiated coverage on shares of American Battery Technology in a report on Tuesday, April 28th. They set a “buy” rating and a $6.00 target price for the company. Weiss Ratings cut shares of American Battery Technology from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Finally, Wall Street Zen lowered shares of American Battery Technology from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One 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, American Battery Technology currently has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Institutional Trading of American Battery Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Abound Wealth Management grew its position in 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 position in American Battery Technology by 8.9% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 32,455 shares of the company’s stock valued at $108,000 after buying an additional 2,666 shares during the period. Deutsche Bank AG grew its position in American Battery Technology by 4.3% during the fourth quarter. Deutsche Bank AG now owns 80,147 shares of the company’s stock valued at $268,000 after buying an additional 3,305 shares during the period. Osaic Holdings Inc. grew its position 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 period. Finally, Creative Planning grew its position in 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 buying an additional 5,000 shares during the period. 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.