American Battery Technology (NASDAQ:ABAT) Releases Earnings Results, Misses Expectations By $0.18 EPS

American Battery Technology (NASDAQ:ABAT) issued its quarterly earnings results on Monday. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.18), FiscalAI reports. The company had revenue of $7.81 million for the quarter, compared to the consensus estimate of $3.70 million. American Battery Technology had a negative return on equity of 46.98% and a negative net margin of 436.31%.

American Battery Technology Price Performance

NASDAQ:ABAT traded up $0.20 during mid-day trading on Monday, reaching $3.37. The stock had a trading volume of 2,843,184 shares, compared to its average volume of 4,754,646. The stock has a market cap of $444.39 million, a P/E ratio of -8.35 and a beta of -0.04. The business’s 50 day moving average is $3.17 and its 200 day moving average is $3.86. American Battery Technology has a fifty-two week low of $1.20 and a fifty-two week high of $11.49.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ABAT shares. Maxim Group initiated coverage on American Battery Technology in a research report on Tuesday, April 28th. They issued a “buy” rating and a $6.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of American Battery Technology in a research note on Friday. Finally, Wall Street Zen downgraded American Battery Technology from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Virtu Financial LLC raised its holdings in American Battery Technology by 38.8% in the 4th quarter. Virtu Financial LLC now owns 62,360 shares of the company’s stock valued at $208,000 after acquiring an additional 17,421 shares in the last quarter. Invesco Ltd. increased its position in shares of American Battery Technology by 77.7% during the fourth quarter. Invesco Ltd. now owns 77,775 shares of the company’s stock valued at $260,000 after purchasing an additional 34,006 shares during the period. XTX Topco Ltd bought a new stake in shares of American Battery Technology during the fourth quarter valued at approximately $165,000. Millennium Management LLC raised its stake in shares of American Battery Technology by 163.8% in the fourth quarter. Millennium Management LLC now owns 3,180,635 shares of the company’s stock valued at $10,623,000 after purchasing an additional 1,975,021 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of American Battery Technology in the fourth quarter valued at $219,000. 9.88% of the stock is currently owned by institutional investors and hedge funds.

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.