American Battery Technology (NASDAQ:ABAT) Sees Significant Increase in Short Interest

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

Hedge Funds Weigh In On American Battery Technology

Several large investors have recently made changes to their positions in ABAT. Dopkins Wealth Management LLC increased its position in American Battery Technology by 76.5% in the 3rd quarter. Dopkins Wealth Management LLC now owns 50,000 shares of the company’s stock worth $54,000 after buying an additional 21,664 shares during the period. State Street Corp grew its stake in shares of American Battery Technology by 26.9% in the third quarter. State Street Corp now owns 204,200 shares of the company’s stock worth $218,000 after acquiring an additional 43,300 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of American Battery Technology by 6.6% in the third quarter. Geode Capital Management LLC now owns 645,063 shares of the company’s stock worth $690,000 after acquiring an additional 40,169 shares during the last quarter. Finally, Tidal Investments LLC increased its position 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 acquiring an additional 4,284 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

American Battery Technology Stock Down 2.8 %

Shares of American Battery Technology stock opened at $1.38 on Thursday. American Battery Technology has a 12-month low of $0.73 and a 12-month high of $4.11. The stock has a 50 day moving average price of $1.59 and a two-hundred day moving average price of $1.21. The stock has a market capitalization of $112.46 million, a P/E ratio of -1.41 and a beta of -2.81.

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.