Advanced Battery Tech (ABAT) beat estimates after the bell today posting an EPS .04 cents better than analyst estimates at .11/share . Revenue for the quarter was $19.5 million, which compares to the estimate of $18.82 million. That’s nearly a doubling of revenues over the year ago quarter, but about in line with what they reported last quarter ($21.5 in revs). All in all, a nice a quarter from ABAT. It appears their electric bike … Read the rest
Tag Archives: ABAT
Advanced Battery Technologies (ABAT) Receives $1.2M In Electric Scooter Orders
Advanced Battery Technologies just announced that it received $1.2 million worth of orders for new electric scooters at the company’s product promotion conference in China. The conference was held at the end of March. The $1.6 million figure is the total amount of the sales contracts signed with four different customers. The scooters will be delivered within the next year.
In a press release, Mr. Zhiguo Fu, CEO of ABAT, commented on the sales:
“The … Read the rest
Advanced Battery (ABAT) Providing Apple (AAPL) Tablet PC Battery?
Rumors continue to swirl around Advanced Battery (ABAT) providing the battery for the Apple (AAPL) tablet PC. The stock was up about 10% yesterday and is ramping up another 10% this morning in premarket trading. Briefing.com first reported the rumor yesterday around 11AM EST and the stock begin to move up with big volume, closing the day near the highs with record volume. It’s adding to the gains following a breakout from a cup with … Read the rest
Advanced Battery Tech (ABAT) Reports Mixed Results, Shares Off 9% AH
Advanced Battery Tech (ABAT) reported mixed results after the bell today and traders aren’t all that thrilled. The stock has taking a beating since the August high and it’s getting hit again after hours, down about 9%. The company reported an EPS number of .08/share which missed analyst estimates of .09/share and was flat from the year ago quarter despite a 40% increase in revenues.
I still like this company longer term and this pull … Read the rest
Advanced Battery Tech (ABAT) Gets $8.7 Million Lithium Battery Order
Advanced Battery Tech (ABAT) announced this morning it has signed an $8.7 million polymer lithium-ion phosphate battery contract with U Long Run Sheng Technology. The ABAT batteries will be used by Long Run for electric motorcycles and other electric vehicles.
ABAT CEO, Zhiguo Fu, said, “We believe the order speaks to the quality of our products and services. The management team at U Long Run Sheng compared similar products available in the market and determined … Read the rest
Ascent Solar (ASTI) & Advanced Battery (ABAT) Sink On Stock Offerings
Ascent Solar (ASTI) (down 15% premarket) and Advanced Battery (ABAT) (down 67% premarket) are raising some cash through stock offerings. ASTI announced it intends to commence an underwritten public offering of 4 million shares of its common stock with net proceeds being used for expansion of production capacity and general corporate purposes. The company also announced that its largest shareholder Norsk Hydro has committed to purchasing about $5 million of common stock in a private … Read the rest
Advanced Battery Technologies (ABAT) Wuxi Autocycle Gets $3.4 Million Electric Scooter/Bike Order
Advanced Battery (ABAT)’s subsidiary Wuxi ZhongQiang (Autcycle) has signed two contracts this morning totaling $3.3 million for customers in Denmark and Indonesia. One order is for 12,000 electric bikes with a contract value of $2.3 million and the 2nd order is for 2000 electric scooters with a total value of $1.1 million. Deliver of the order is expected within the month.
Zhiguo Fu, CEO of ABAT, said, “We are excited to announce the electric vehicle … Read the rest
Advanced Battery Technologies (ABAT) Intends to Acquire Leading Chinese Battery Production Company
Advanced Battery Technologies (ABAT) just announced that it has signed a letter of intent to acquire a leading Chinese battery company,according to this press release.
As a down payment for the battery company, located in Shenzen, China, Advanced Battery Technologies will pay a refundable deposit of RMB 10 million. The final purchase will be made after Advanced Battery Technologies does its due diligence regarding the purchase, as long as everything checks out.
In the press … Read the rest
Advanced Battery (ABAT) Misses On EPS & Revenues
Advanced Battery Technologies (ABAT) reported their earnings during market hours today and missed on both EPS and revenues. Excluding one time gains, the company earned just .03/share which missed the analyst estimate of .08/share and represents a 67% plunge over the year ago quarter. Despite an increase in revenues due to the Wuxi Autocycle acquisition, the company still missed estimates there as well, reporting $13.8 million. That’s a miss of nearly $2 million, but is … Read the rest
ZAP Receives 100 Scooters Powered By Advanced Battery Technologies (ABAT)
ZAP has received a shipment of 100 electric vehicles powered by larger-format polymer lithium-ion batteries from Advanced Battery Technologies. This first shipment was for Zappy3 Li personal transporters, but the two companies plan to expand their partnership into larger vehicles soon, such as pickups, vans and the Alias roadster model that ZAP is developing.
In a press release, ZAP CEO Steve Schneider explained why Advanced Battery Technology’s batteries make such a difference:
“You can … Read the rest