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
Tag Archives: advanced battery tech
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
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 Tech (ABAT) Beats On Strong Electric Bike Sales
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
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
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
Advanced Battery Tech (ABAT) and ZAP Sign Lithium Battery Distribution Agreement
It’s being announced this morning that electric car manufacturer ZAP (OTC:ZAAP) will offer extended ranges and more vehicle power by incorporating Advanced Battery Tech’s (ABAT) large-format polymer lithium-ion battery technology. The company expects to use the technology in its popular line of Zappy3 electric scooters initially, then incorporate into other vehicles later. The battery may play an important role in ZAP’s extended range pickup, the shuttle van and the Alias roadster, offering better performance … Read the rest