American Battery Technology (NASDAQ:ABAT) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of American Battery Technology (NASDAQ:ABAT) from a hold rating to a sell rating in a research note published on Friday morning.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of American Battery Technology in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

American Battery Technology Trading Down 2.6%

Shares of American Battery Technology stock opened at $4.88 on Friday. American Battery Technology has a 12 month low of $0.73 and a 12 month high of $5.49. The firm has a market capitalization of $576.08 million, a P/E ratio of -8.27 and a beta of -1.64. The business’s fifty day simple moving average is $2.90 and its 200 day simple moving average is $1.96.

American Battery Technology (NASDAQ:ABAT) last posted its quarterly earnings data on Thursday, September 18th. The company reported ($0.10) EPS for the quarter. American Battery Technology had a negative net margin of 1,090.07% and a negative return on equity of 67.35%. The firm had revenue of $2.78 million during the quarter.

Institutional Investors Weigh In On American Battery Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP increased its holdings in American Battery Technology by 39.8% during the 4th quarter. Two Sigma Investments LP now owns 37,750 shares of the company’s stock valued at $93,000 after purchasing an additional 10,756 shares during the period. Squarepoint Ops LLC bought a new stake in shares of American Battery Technology in the 4th quarter worth approximately $32,000. Tcfg Wealth Management LLC purchased a new position in shares of American Battery Technology during the first quarter valued at approximately $96,000. Chico Wealth RIA bought a new position in shares of American Battery Technology during the first quarter valued at approximately $206,000. Finally, XTX Topco Ltd bought a new position in shares of American Battery Technology during the first quarter valued at approximately $144,000. 9.88% of the stock is currently owned by institutional investors.

About American Battery Technology

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.