American Battery Technology (NASDAQ:ABAT) Sees Large Growth in Short Interest

American Battery Technology (NASDAQ:ABAT) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 7,080,000 shares, an increase of 32.8% from the December 15th total of 5,330,000 shares. Based on an average daily volume of 4,340,000 shares, the short-interest ratio is presently 1.6 days. Approximately 8.6% of the shares of the stock are short sold.

American Battery Technology Stock Down 1.0 %

Shares of ABAT stock opened at $2.00 on Friday. The business has a 50-day moving average price of $1.48 and a two-hundred day moving average price of $1.19. American Battery Technology has a 12-month low of $0.73 and a 12-month high of $4.11. The firm has a market cap of $162.99 million, a P/E ratio of -2.04 and a beta of -2.81.

Institutional Investors Weigh In On American Battery Technology

Several hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in American Battery Technology by 5.9% during the third quarter. Tidal Investments LLC now owns 77,475 shares of the company’s stock worth $83,000 after purchasing an additional 4,284 shares during the last quarter. Dopkins Wealth Management LLC lifted its stake in American Battery Technology by 76.5% during the third quarter. Dopkins Wealth Management LLC now owns 50,000 shares of the company’s stock worth $54,000 after purchasing an additional 21,664 shares during the last quarter. Geode Capital Management LLC lifted its stake in American Battery Technology by 6.6% during 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 last quarter. Finally, State Street Corp lifted its stake in shares of American Battery Technology by 26.9% in the 3rd quarter. State Street Corp now owns 204,200 shares of the company’s stock valued at $218,000 after acquiring an additional 43,300 shares during the last quarter. Institutional investors own 9.88% of the company’s 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.