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

American Battery Technology (NASDAQ:ABAT) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 5,360,000 shares, an increase 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 presently 10.0 days. Currently, 9.4% of the shares of the company are short sold.

Institutional Investors Weigh In On American Battery Technology

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

American Battery Technology Stock Down 7.2 %

Shares of ABAT stock opened at $1.16 on Tuesday. The stock’s fifty day moving average price is $1.29 and its two-hundred day moving average price is $2.24. American Battery Technology has a fifty-two week low of $1.00 and a fifty-two week high of $13.78.

American Battery Technology (NASDAQ:ABAT) last issued its earnings results 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). As a group, analysts forecast that American Battery Technology will post -0.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.