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

American Battery Technology (NASDAQ:ABAT) was the target of 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. Currently, 9.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 538,100 shares, the short-interest ratio is presently 10.0 days.

American Battery Technology Stock Down 5.9 %

ABAT stock opened at $1.04 on Thursday. American Battery Technology has a 52-week low of $1.00 and a 52-week high of $13.78. The company has a fifty day moving average price of $1.28 and a 200-day moving average price of $2.20.

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

Analysts Set New Price Targets

Separately, Northland Securities began coverage on American Battery Technology in a report on Wednesday, March 27th. They issued an “outperform” rating and a $6.00 price objective for the company.

Institutional Trading of American Battery Technology

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