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

American Battery Technology (NASDAQ:ABAT) saw a large increase in short interest in 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. Currently, 8.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,340,000 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dopkins Wealth Management LLC grew its stake in shares of American Battery Technology by 76.5% in the 3rd quarter. Dopkins Wealth Management LLC now owns 50,000 shares of the company’s stock valued at $54,000 after purchasing an additional 21,664 shares during the period. Tidal Investments LLC boosted its stake in American Battery Technology by 5.9% in the 3rd quarter. Tidal Investments LLC now owns 77,475 shares of the company’s stock valued at $83,000 after buying an additional 4,284 shares in the last quarter. State Street Corp grew its position 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 acquiring an additional 43,300 shares during the period. Finally, Geode Capital Management LLC raised its stake 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 acquiring an additional 40,169 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

American Battery Technology Stock Performance

NASDAQ:ABAT opened at $1.38 on Thursday. The company has a 50-day moving average of $1.59 and a 200-day moving average of $1.21. American Battery Technology has a 52 week low of $0.73 and a 52 week high of $4.11. The company has a market capitalization of $112.46 million, a price-to-earnings ratio of -1.41 and a beta of -2.81.

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.