American Battery Technology (NASDAQ:ABAT) Short Interest Up 7.0% in June

American Battery Technology (NASDAQ:ABAT) was the recipient of a significant growth in short interest during 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. Approximately 9.4% of the company’s stock are sold short. Based on an average daily volume of 538,100 shares, the short-interest ratio is currently 10.0 days.

Institutional Investors Weigh In On American Battery Technology

Hedge funds have recently modified their holdings of the business. Scarborough Advisors LLC bought a new position in American Battery Technology in the 4th quarter worth $46,000. Brighton Jones LLC bought a new position in American Battery Technology in the 4th quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. bought a new position in American Battery Technology in the 4th quarter worth $81,000. Grassi Investment Management bought a new position in American Battery Technology in the 4th quarter worth $2,224,000. Finally, PNC Financial Services Group Inc. bought a new position in American Battery Technology in the 3rd quarter worth $29,000. Institutional investors own 9.88% of the company’s stock.

American Battery Technology Stock Performance

Shares of NASDAQ ABAT opened at $1.16 on Tuesday. American Battery Technology has a twelve month low of $1.00 and a twelve month high of $13.78. The company has a 50 day moving average of $1.29 and a 200 day moving average of $2.24.

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

Wall Street Analysts Forecast Growth

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.

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.