American Battery Technology Company (NASDAQ: ABAT): What Matters Now

American Battery Technology Company (NASDAQ:ABAT) shares, rose in value, with the stock price up by 6.71% to the previous day’s close as strong demand from buyers drove the stock to $1.75.

Actively observing the price movement in the last trading, the stock closed the session at $1.64. The value of beta (5-year monthly) was 1.78. Referring to stock’s 52-week performance, its high was $14.10, and the low was $1.55. On the whole, ABAT has fluctuated by -29.72% over the past month.

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With the market capitalization of American Battery Technology Company currently standing at about $90.79 million, investors are eagerly awaiting this quarter’s results, scheduled for May 13, 2024 – May 17, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.12, which is expected to increase to -$0.09 for fiscal year -$0.58 and then to about -$0.14 by fiscal year 2025. Data indicates that the EPS growth is expected to be -18.40% in 2025, while the next year’s EPS growth is forecast to be 75.90%.

Analysts have estimated the company’s revenue for the quarter at $7.16 million, with a low estimate of $500k and a high estimate of $13.82 million.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ABAT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ABAT currently trading nearly -9.74% and -21.45% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 41.74, while the 7-day volatility ratio is showing 12.84% which for the 30-day chart, stands at 10.76%. Furthermore, American Battery Technology Company (ABAT)’s beta value is 1.78, and its average true range (ATR) is 0.22.

A comparison of American Battery Technology Company (ABAT) with its peers suggests the former has fared considerably weaker in the market. ABAT showed an intraday change of 6.71% in last session, and over the past year, it shrunk by -87.59%%.

Data on historical trading for American Battery Technology Company (NASDAQ:ABAT) indicates that the trading volumes over the past 10 days have averaged 0.96 million and over the past 3 months, they’ve averaged 736.86K. According to company’s latest data on outstanding shares, there are 51.88 million shares outstanding.

Nearly 3.17% of American Battery Technology Company’s shares belong to company insiders and institutional investors own 9.89% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.3 million shares as on Mar 15, 2024, resulting in a short ratio of 5.81. According to the data, the short interest in American Battery Technology Company (ABAT) stood at 8.29% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 4.34 million. The stock has fallen by -62.69% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ABAT stock heading into the next quarter.