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

American Battery Technology (NASDAQ:ABAT) saw a significant increase in short interest in 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 days-to-cover ratio is presently 1.6 days. Currently, 8.6% of the shares of the company are sold short.

American Battery Technology Stock Down 1.0 %

American Battery Technology stock opened at $2.00 on Friday. American Battery Technology has a 52 week low of $0.73 and a 52 week high of $4.11. The business has a 50-day simple moving average of $1.48 and a 200 day simple moving average of $1.19. The stock has a market cap of $162.99 million, a price-to-earnings ratio of -2.04 and a beta of -2.81.

Hedge Funds Weigh In On American Battery Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABAT. Dopkins Wealth Management LLC grew its position 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 buying an additional 21,664 shares in the last quarter. State Street Corp grew its position in American Battery Technology by 26.9% during the third quarter. State Street Corp now owns 204,200 shares of the company’s stock worth $218,000 after buying an additional 43,300 shares in the last quarter. Geode Capital Management LLC grew 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 worth $690,000 after buying an additional 40,169 shares in the last quarter. Finally, Tidal Investments LLC grew 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 buying an additional 4,284 shares in 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.