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

American Battery Technology (NASDAQ:ABAT) was the recipient of a large increase in short interest in 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 trading volume of 779,200 shares, the days-to-cover ratio is presently 5.9 days. Approximately 8.6% of the company’s stock are short sold.

Hedge Funds Weigh In On American Battery Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in ABAT. Commonwealth Equity Services LLC purchased a new position in shares of American Battery Technology in the 3rd quarter worth about $140,000. Fortis Capital Management LLC purchased a new stake in American Battery Technology during the third quarter valued at about $420,000. PNC Financial Services Group Inc. purchased a new stake in American Battery Technology during the third quarter valued at about $29,000. LPL Financial LLC purchased a new stake in American Battery Technology during the third quarter valued at about $95,000. Finally, Townsquare Capital LLC purchased a new stake in American Battery Technology during the third quarter valued at about $135,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Northland Securities started coverage on shares of American Battery Technology in a report on Wednesday, March 27th. They issued an “outperform” rating and a $6.00 price target on the stock.

American Battery Technology Price Performance

Shares of NASDAQ:ABAT opened at $1.43 on Thursday. The company’s 50-day moving average is $1.97 and its 200 day moving average is $3.69. American Battery Technology has a fifty-two week low of $1.39 and a fifty-two week high of $14.10.

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

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.