Scott Jolcover, the Chief Resource Officer of American Battery Technology Co (OTC:ABML), has engaged in recent stock transactions involving both acquiring and disposing of the company's shares. On April 8, 2024, Jolcover acquired 2,203 shares of common stock at no cost, which is part of his employment compensation plan. Following this transaction, he held a total of 257,328 shares.
In a separate transaction on April 10, Jolcover sold 544 shares of common stock at $1.80 per share to cover tax liabilities, totaling approximately $979. After this sale, his holdings decreased slightly to 256,784 shares.
Additionally, Jolcover exercised warrants to acquire 17,031 shares of American Battery Technology Co at a price of $4.29 per share on April 9, 2024. The total transaction value for the warrants was $73,062. The warrants, which also stem from his employment agreement, allow him to purchase shares of the company's common stock and will expire on April 9, 2027.
These transactions reflect the ongoing financial activities of key executives at American Battery Technology Co, which investors often monitor for insights into insider confidence and company performance.
InvestingPro Insights
As American Battery Technology Co's (OTC:ABML) Chief Resource Officer, Scott Jolcover, engages in recent stock transactions, it's worth noting the company's current financial health and market performance. American Battery Technology Co has a market capitalization of $101.86 million and has been navigating through some financial challenges, as indicated by its negative P/E ratio of -3.41 for the last twelve months as of Q2 2024. This reflects the company's lack of profitability during this period.
InvestingPro data also reveals that the company's stock price has experienced significant volatility, with a 1-year price total return of -83.91%. This downward trend in the stock price is underlined by a 3-month price total return of -51.79%. Despite recent positive movements, with a 1-week price total return of 7.43%, the overall trend suggests that the stock has been under considerable pressure.
InvestingPro Tips for American Battery Technology Co highlight several critical points for potential investors. The company is quickly burning through cash and suffers from weak gross profit margins. Additionally, it has been noted that short-term obligations exceed liquid assets, indicating potential liquidity concerns.
For those considering investing in American Battery Technology Co, it's essential to weigh these factors carefully. Interested investors can find more detailed analysis and additional InvestingPro Tips, totaling 9 for ABML, by visiting https://www.investing.com/pro/ABML. To enhance your investing strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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