American Battery Technology (NASDAQ:ABAT) Sees Large Growth in Short Interest

American Battery Technology (NASDAQ:ABAT) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 5,360,000 shares, a growth of 7.0% from the May 31st total of 5,010,000 shares. Based on an average daily volume of 538,100 shares, the short-interest ratio is currently 10.0 days. Approximately 9.4% of the shares of the company are sold short.

American Battery Technology Price Performance

NASDAQ:ABAT opened at $1.04 on Thursday. The stock has a 50-day simple moving average of $1.28 and a two-hundred day simple moving average of $2.20. American Battery Technology has a 52-week low of $1.00 and a 52-week high of $13.78.

American Battery Technology (NASDAQ:ABAT) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). As a group, equities analysts predict that American Battery Technology will post -0.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Northland Securities began coverage on shares of American Battery Technology in a research note on Wednesday, March 27th. They set an “outperform” rating and a $6.00 price target on the stock.

Institutional Trading of American Battery Technology

Several institutional investors and hedge funds have recently modified their holdings of ABAT. Grassi Investment Management bought a new position in American Battery Technology in the 4th quarter worth $2,224,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of American Battery Technology in the fourth quarter valued at about $81,000. Brighton Jones LLC bought a new position in shares of American Battery Technology in the fourth quarter worth about $47,000. Scarborough Advisors LLC purchased a new stake in shares of American Battery Technology during the fourth quarter worth about $46,000. Finally, PNC Financial Services Group Inc. bought a new stake in American Battery Technology during the 3rd quarter valued at approximately $29,000. 9.88% of the stock is currently owned by institutional investors.

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.