American Battery Technology Company (NASDAQ:ABAT) Short Interest Update

American Battery Technology Company (NASDAQ:ABAT) saw a significant increase in short interest in August. As of August 15th, there was short interest totaling 12,170,000 shares, anincreaseof59.3% from the July 31st total of 7,640,000 shares. Based on an average daily volume of 4,500,000 shares, the days-to-cover ratio is presently 2.7 days. Approximately13.7% of the company’s shares are short sold. Approximately13.7% of the company’s shares are short sold. Based on an average daily volume of 4,500,000 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On American Battery Technology

Several hedge funds have recently added to or reduced their stakes in ABAT. Geode Capital Management LLC boosted its holdings in American Battery Technology by 113.8% in the second quarter. Geode Capital Management LLC now owns 1,935,526 shares of the company’s stock valued at $3,136,000 after purchasing an additional 1,030,323 shares during the last quarter. Soviero Asset Management LP acquired a new position in shares of American Battery Technology in the 4th quarter valued at $1,673,000. Chico Wealth RIA acquired a new position in shares of American Battery Technology in the 1st quarter valued at $206,000. XTX Topco Ltd acquired a new position in shares of American Battery Technology in the 1st quarter valued at $144,000. Finally, Tcfg Wealth Management LLC acquired a new position in shares of American Battery Technology in the 1st quarter valued at $96,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised American Battery Technology from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th.

American Battery Technology Price Performance

NASDAQ ABAT opened at $2.38 on Tuesday. American Battery Technology has a 1 year low of $0.73 and a 1 year high of $4.11. The company has a market cap of $218.70 million, a price-to-earnings ratio of -2.59 and a beta of -2.20. The stock’s fifty day moving average price is $2.35 and its 200 day moving average price is $1.61.

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.