Advanced Battery Stock Gaps Up On Today's Open (ABAT)
Shares of Advanced Battery Technologies (Nasdaq:ABAT) were gapping up Thursday morning with an open price 13.6% higher than Wednesday's closing price. The stock closed at $1.54 yesterday and opened today's trading at $1.75.
NEW YORK ( TheStreet) -- Shares of Advanced Battery Technologies (Nasdaq: ABAT) were gapping up Thursday morning with an open price 13.6% higher than Wednesday's closing price. The stock closed at $1.54 Wednesday and opened today's trading at $1.75. The average volume for Advanced Battery has been 2.6 million shares per day over the past 30 days. Advanced Battery has a market cap of $122.3 million and is part of the industrial goods sector and industrial industry. Shares are down 60% year to date as of the close of trading on Wednesday. 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 3.3, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Advanced Battery as a hold. 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 and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share. You can view the full Advanced Battery Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP 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.