American Battery Technology (NASDAQ:ABAT) Short Interest Up 6.5% in March

American Battery Technology (NASDAQ:ABAT) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,580,000 shares, an increase of 6.5% from the March 15th total of 4,300,000 shares. Based on an average daily volume of 779,200 shares, the days-to-cover ratio is currently 5.9 days. Approximately 8.6% of the company’s shares are short sold.

American Battery Technology Stock Performance

Shares of NASDAQ ABAT opened at $1.43 on Thursday. The firm has a 50 day moving average price of $1.97 and a 200 day moving average price of $3.69. American Battery Technology has a 52-week low of $1.39 and a 52-week high of $14.10.

American Battery Technology (NASDAQ:ABAT) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.19) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fortis Capital Management LLC acquired a new position in shares of American Battery Technology in the third quarter valued at approximately $420,000. Commonwealth Equity Services LLC bought a new stake in shares of American Battery Technology in the third quarter worth $140,000. Grassi Investment Management bought a new stake in shares of American Battery Technology in the fourth quarter worth $2,224,000. Scarborough Advisors LLC bought a new stake in shares of American Battery Technology in the fourth quarter worth $46,000. Finally, Vanguard Group Inc. bought a new stake in shares of American Battery Technology in the fourth quarter worth $11,644,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.