American Battery Technology (NASDAQ:ABAT) Short Interest Update

American Battery Technology (NASDAQ:ABAT) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 5,010,000 shares, a growth of 5.5% from the May 15th total of 4,750,000 shares. Approximately 8.8% of the company’s stock are short sold. Based on an average daily trading volume, of 557,300 shares, the short-interest ratio is presently 9.0 days.

American Battery Technology Trading Down 2.8 %

ABAT stock opened at $1.03 on Tuesday. The firm has a 50 day moving average price of $1.39 and a 200-day moving average price of $2.45. American Battery Technology has a 52-week low of $1.02 and a 52-week high of $13.78.

American Battery Technology (NASDAQ:ABAT) last released its earnings results on Wednesday, May 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.05).

Analyst Ratings Changes

Separately, Northland Securities initiated coverage on shares of American Battery Technology in a report on Wednesday, March 27th. They set an “outperform” rating and a $6.00 target price for the company.

Hedge Funds Weigh In On American Battery Technology

A number of hedge funds have recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in American Battery Technology in the 4th quarter worth approximately $46,000. Brighton Jones LLC bought a new stake in American Battery Technology in the 4th quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in American Battery Technology in the 4th quarter worth approximately $81,000. Grassi Investment Management bought a new stake in American Battery Technology in the 4th quarter worth approximately $2,224,000. Finally, PNC Financial Services Group Inc. bought a new stake in American Battery Technology in the 3rd quarter worth approximately $29,000. 9.88% of the stock is currently owned by hedge funds and other 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.