Advanced Battery Rises On Unusually High Volume (ABAT)
Advanced Battery Technologies (Nasdaq:ABAT) is trading at unusually high volume Friday with 5.5 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up 13 cents (+6.7%).
NEW YORK ( TheStreet) -- Advanced Battery Technologies (Nasdaq: ABAT) is trading at unusually high volume Friday with 5.5 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up 13 cents (+6.7%) at $2.07 as of 3:56 p.m. ET. Advanced Battery has a market cap of $153.6 million and is part of the industrial goods sector and industrial industry. Shares are down 49.6% year to date as of the close of trading on Thursday. Advanced Battery Technologies, Inc., through its subsidiaries, engages in the design, manufacture, and marketing of rechargeable polymer lithium-ion (PLI) batteries in the United States, Europe, and Asia. The company has a P/E ratio of 4.2, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 16.4. TheStreet Ratings rates Advanced Battery as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Advanced Battery Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.
Shares of Advanced Battery Technologies (Nasdaq:ABAT) have taken a tremendous swing upward. The stock is trading at $1.55 as of three p.m. ET, 20.2% above Friday's closing price of $1.29. Volume is at 3.1 million, 1.2 times the daily average of 2.6 million.