Steven Wu, serving as the Chief Operating Officer for American Battery Technology Co (NASDAQ: ABAT), completed a substantial divestment of company equity on June 15, 2026. The executive offloaded 115,480 shares of the firm's common stock, a transaction that netted $411,108 in proceeds. Each share was divested at a realized price of $3.56. Post-transaction, Wu maintains a direct ownership position of 342,695 shares in American Battery Technology Co.
This insider sale occurs during a period of notable price compression for ABAT shares, which have contracted by 11% over the trailing seven days. Despite this recent downward pressure, the equity has demonstrated substantial long-term appreciation, climbing 156% over the past twelve months. Market observers noting the recent volatility have highlighted that the stock has "taken a big hit over the last week," according to data analytics from InvestingPro.
American Battery Technology Co operates within the critical battery minerals supply chain, focusing on the extraction and processing of essential raw materials. The specifics of Wu's equity transaction were formally reported via a recent filing with the Securities and Exchange Commission, ensuring regulatory transparency regarding executive holdings.
Concurrently, the company has reported significant operational and financial developments. During its third-quarter 2026 earnings call, American Battery Technology Company announced it had achieved profitability for the first time in its corporate history. This milestone was accompanied by a robust 64% sequential revenue increase, pushing total quarterly revenue to $7.8 million. Furthermore, the U.S. Department of Energy has reinstated a grant supporting the company's $115 million lithium refinery initiative at the Tonopah Flats Lithium Project. The reinstated grant retains its original funding structure and technical and commercial milestones, though the project timeline has been adjusted to accommodate the regulatory review process. These updates underscore the firm's dual progress in financial stabilization and large-scale project execution.