American Battery Technology (NASDAQ:ABAT – Get Free Report) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 5,330,000 shares, a decline of 21.8% from the November 30th total of 6,820,000 shares. Currently, 7.2% of the company’s shares are short sold. Based on an average daily trading volume, of 2,510,000 shares, the days-to-cover ratio is currently 2.1 days.
Institutional Trading of American Battery Technology
Several institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in American Battery Technology by 6.6% in the third quarter. Geode Capital Management LLC now owns 645,063 shares of the company’s stock worth $690,000 after purchasing an additional 40,169 shares during the period. State Street Corp lifted its position in shares of American Battery Technology by 26.9% in the third quarter. State Street Corp now owns 204,200 shares of the company’s stock worth $218,000 after purchasing an additional 43,300 shares in the last quarter. Finally, Dopkins Wealth Management LLC increased its stake in American Battery Technology by 76.5% in the 3rd quarter. Dopkins Wealth Management LLC now owns 50,000 shares of the company’s stock valued at $54,000 after buying an additional 21,664 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.
American Battery Technology Price Performance
Shares of NASDAQ:ABAT opened at $3.36 on Friday. The company has a 50 day moving average of $1.07 and a 200-day moving average of $1.06. American Battery Technology has a one year low of $0.73 and a one year high of $5.07. The stock has a market cap of $257.02 million, a price-to-earnings ratio of -3.43 and a beta of 2.17.
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.
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