Advanced Battery Technologies (ABAT) needs some good news. The stock has been punished in recent months on accounting concerns. Today it got some when the company announced intraday that it received a $14.7 million order on June 1st for 24,000 electric bikes and scooters from Wuxi Hao Jie Vehicle. The vehicles will be delivered over the course of the next year. The contract represents about half of a quarters revenue, so significant but not a … Read the rest
Tag Archives: ABAT
Advanced Battery Tech (ABAT) Smashes EPS Estimates, Misses On Revenues
Advanced Battery Technologies (ABAT) posted its earnings results yesterday smashing analyst estimates on the EPS side (posting .20/share vs the estimate for .10 share) but missed on the revenue side (posting $28.6 million vs the estimate for $32.5 million. The EPS beat was despite a reduction in gross margins due to rising costs particularly in the small capacity lithium battery segment. The company expects margins to remain under a bit of pressure for the remainder … Read the rest
Advanced Battery Tech (ABAT): Yet Another China Company Accused Of Fraud, Shares Plummet Further
It seems the name of the game, particularly this year, is run through the financial statements and conduct interviews of China based companies to find evidence of shady dealings of fraud. Then short the stock and publish the piece which will be picked up by Seeking Alpha. Profit handsomely. Wash, rinse, repeat. Citron Research was really the first firm to have an impact in this regard, but lesser known firms are joining the ranks as … Read the rest
Advanced Battery Tech (ABAT) Furthers Push Into Consumer Electronics With Purchase Of Shenzhen Zhongqiang, Adds Capacity
Now we know specifically why why ABAT wanted to raise $30 million which sent the stock reeling in the short term. The company said it would use the funds for acquisitions and expansion and that’s exactly what they’ve announced today. Advanced Battery Technologies (ABAT) has entered into an Acquisition Agreement with Shenzhen Zhongqiang New Energy Science & Technology which manufactures lithium batteries for mobile phones, MP3 and video game consoles. The $20 million acquisition is … Read the rest
Advanced Battery Tech (ABAT) Hit On $30 Million Capital Raise
Advanced Battery Technologies (ABAT) is down 10% this morning on news the company will raise $30 million by selling 7.5 million shares at a price of $4/share. The company will also issue warrants that when fully exercised could provide another $15 million in capital. The company plans to use the proceeds for acquisitions and manufacturing capacity.
The best companies are able to recover quickly from a capital raise, so it will be interesting to see … Read the rest
Advanced Battery Tech (ABAT) Reports Mixed Results, But Shares Up
Advanced Battery Tech (ABAT) which has long been my favorite lithium battery play, reported Q3 earnings results last night that were mixed, but traders like the report, sending the stock up a few percent in pre-market trading. The company reported an EPS of .16/share vs the analyst estimate for .12/share on revenues of $25.9 million which was just shy of the analyst estimate of $27.5 million. Those numbers represent a 100% quarter over quarter jump … Read the rest
Most Important Alternative Energy Companies (FSLR, SMLNF, GE, ABB, SQM, CZZ, GPRE, ABAT, ITRI, CREE, ORA, OPTT)
24/7 Wall St published their list of the 25 most important alternative energy companies a few days ago and broke it down by category. I thought I’d highlight the companies they consider to be the most important in each category (which I agree with) and add in some of my own thoughts. There is one glaring omission in 24/7 Wall St’s report and that is geothermal. Geothermal remains the red headed step child of the … Read the rest
Lithium Battery Stocks: Altair (ALTI) Catches Fire, Are VLNC & ABAT Next?
In recent days, Altair Nanotechnologies (ALTI) has surged, doubling in just 3 trading days with huge buy volume. I’m not seeing any news or upgrades that would account for this move, so maybe the news is coming. If you have an idea of why the surge is taking place in ALTI feel free to leave a comment below. Another speculative lithium battery stock that may be primed and fueled for surge is Valence Technology (VLNC). … Read the rest
Advanced Battery Technologies (ABAT) Receives $1.1M Order For Electric Motorcycles
Advanced Battery Technologies just announced that it has received an order for its electric motorcycles worth $1.1 million from All-Power America. This marks the first time that Advanced Battery Technologies’ electric vehicles will be available on the American market, and the company plans to deliver 2,000 of them to All-Power America by the end of the month.
In a , Mr. Zhiguo Fu, CEO of ABAT, commented on the news:
“This new order is an … Read the rest
Advanced Battery Technologies (ABAT) Publishes Guidance For 2010
Advanced Battery Technologies has released guidance for 2010. The company expects revenue of $100 to $110 million and net income of $32 to $36 million this year, excluding any unforeseen impact from future acquisitions or fair value change of outstanding warrants.
In a press release, Mr. Zhiguo Fu, CEO of ABAT, commented on the news:
“Advanced Battery is acutely aware of the current global economic conditions and we have cautiously moved forward with our business … Read the rest