American Battery Technology Sees Unusually High Options Volume (NASDAQ:ABAT)

American Battery Technology (NASDAQ:ABAT) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 4,707 call options on the company. This is an increase of 1,760% compared to the average volume of 253 call options.

American Battery Technology Trading Up 38.8 %

Shares of ABAT stock traded up $0.69 during trading hours on Tuesday, reaching $2.47. The stock had a trading volume of 17,990,462 shares, compared to its average volume of 994,768. The stock’s fifty day simple moving average is $0.97 and its 200 day simple moving average is $1.02. The firm has a market capitalization of $188.94 million, a PE ratio of -2.52 and a beta of 2.16. American Battery Technology has a 12 month low of $0.73 and a 12 month high of $5.55.

American Battery Technology (NASDAQ:ABAT) last released its quarterly earnings results on Monday, September 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.11). The firm had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $5.00 million.

Hedge Funds Weigh In On American Battery Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dopkins Wealth Management LLC boosted its position in shares of American Battery Technology by 76.5% during the 3rd quarter. Dopkins Wealth Management LLC now owns 50,000 shares of the company’s stock valued at $54,000 after acquiring an additional 21,664 shares during the last quarter. State Street Corp raised its stake in American Battery Technology by 26.9% in the third quarter. State Street Corp now owns 204,200 shares of the company’s stock valued at $218,000 after purchasing an additional 43,300 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position 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 valued at $690,000 after purchasing an additional 40,169 shares during the last quarter. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

American Battery Technology Company Profile

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.