CBAK Energy Technology (NASDAQ:CBAT) Releases Quarterly Earnings Results

CBAK Energy Technology (NASDAQ:CBAT - Get Free Report) issued its quarterly earnings data on Monday. The electronics maker reported ($0.02) earnings per share (EPS) for the quarter, RTT News reports. The company had revenue of $34.94 million for the quarter, compared to analysts' expectations of $52.16 million. CBAK Energy Technology had a return on equity of 10.55% and a net margin of 6.25%.

CBAK Energy Technology Stock Up 3.2%

CBAT traded up $0.03 during trading on Friday, reaching $0.88. 135,120 shares of the company were exchanged, compared to its average volume of 314,599. The company's 50-day moving average is $0.78 and its two-hundred day moving average is $0.86. The company has a market cap of $78.88 million, a price-to-earnings ratio of 7.31 and a beta of 1.66. CBAK Energy Technology has a 12-month low of $0.57 and a 12-month high of $2.08.

Analyst Ratings Changes

Separately, Wall Street Zen cut CBAK Energy Technology from a "hold" rating to a "sell" rating in a report on Saturday.

Institutional Trading of CBAK Energy Technology

A hedge fund recently raised its stake in CBAK Energy Technology stock. Empowered Funds LLC raised its holdings in CBAK Energy Technology, Inc. (NASDAQ:CBAT - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355,536 shares of the electronics maker's stock after acquiring an additional 28,411 shares during the period. Empowered Funds LLC owned approximately 0.40% of CBAK Energy Technology worth $283,000 at the end of the most recent reporting period. 1.97% of the stock is owned by institutional investors and hedge funds.

About CBAK Energy Technology

CBAK Energy Technology, Inc, together with its subsidiaries, manufacture, commercialization, and distribution of lithium ion high power rechargeable batteries in Mainland China, the United States, Europe, and internationally. The company operates in two segments, CBAK and Hitrans. Its lithium batteries are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles, such as electric bicycles, electric motors, electric tricycles, and smaller-sized electric cars; and electric tools, energy storage, uninterruptible power supply, and other high power applications, as well as cordless power tools.